Two major players in the crypto investment space, Brevan Howard Digital and Galaxy Digital, have both put their money into Alliance’s third fund, indicating a growing interest and confidence in the crypto market. The fund had its first close in February with commitments worth $20 million from these big players, a clear sign of their belief in the potential of the startups it will invest in. With an additional $80 million targeted by July, Fund III aims to cap at $100 million, focusing on investing $500,000 per startup.
The rise of Alliance’s third fund comes amidst a resurgence in crypto funding, as indicated by the recent high levels of venture capital funding in the crypto space. With other venture firms also raising substantial amounts for new funds, it showcases a growing trend of confidence and interest in the industry. Alliance’s previous success with its first two funds, backing promising startups like Arbitrum and Immutable X, further solidifies its position as a key player in the crypto accelerator space.
As Alliance continues to accelerate startups and provide mentorship within its cohorts, its partnerships with notable investors like Peter Thiel’s Founders Fund and the repeat backing of Galaxy Digital reflect a strong support system for the crypto accelerator. The involvement of Brevan Howard Digital and Galaxy Digital in the fund further underlines the growing importance of strategic investments in the crypto space, signaling exciting opportunities for startups and investors alike in the evolving landscape of digital assets.
