A prominent New York-based venture capital firm has successfully raised $100 million for its third investment fund, aimed at supporting early-stage blockchain startups. The new fund, named Archetype III, has garnered backing from a variety of institutional investors, including pensions, academic endowments, sovereign wealth funds, and funds of funds, demonstrating a robust interest in the burgeoning blockchain sector.
Archetype has established a strong track record in identifying promising ventures within the cryptocurrency and blockchain space. Notable successes include its investment in Privy, a crypto wallet startup that was acquired by Stripe earlier this year. Additionally, the firm has made strategic investments in US Bitcoin Corp, which recently completed a merger with Hut 8, aligning the company with Eric Trump’s American Bitcoin project.
Currently, Archetype manages approximately $350 million in assets, with significant holdings in leading cryptocurrencies like Solana and Ethereum. While the firm has not disclosed specific investments from the newly raised fund, it indicated that several transactions have already been made.
Archetype’s strategy is focused on identifying founders who are developing practical applications for blockchain technology, with the aim of fostering broader consumer adoption of cryptocurrency solutions. The firm’s commitment to supporting real-world use cases is expected to drive innovation and growth in the sector.
An inquiry for further comment from the firm has not received a response at the time of reporting.
