Venture Firm NFX Announces $450M Crypto Fund
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NFX, a seed and series A venture firm, has assembled a $450 million Fund III with focus on crypto and tech-bio sector. According to a press release, the firm's largest fund to date is planned to support 70 companies whose founders specialize in fintech and crypto spaces.

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"We see so many exciting opportunities ahead and are now looking forward to continuing to support even more founders in the future," said Pete Flint, NFX General Partner.

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Alongside the new fund, the NFX team has also grown from 16 employees to 45, and opened offices in San Francisco, Israel and Palo Alto. NFX says network effects based companies account for ~70% of value creation in tech, however, they are still "poorly understood." The venture firm wants to build a stronger network and services to "help founders get even further, faster in an increasingly competitive market."

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