A group of cryptocurrency investors is seeking $200 million in funding from a new firm called TenSquared Capital to back digital asset startups, according to two people familiar with the matter.

The company, known as 10SQ, was launched by employees of 10T Holdings, a cryptocurrency-focused investment firm. According to PitchBook data, the company manages $1.2 billion in assets. People familiar with the matter said the company has exhausted all its capital and is stopping new investments. 10T Holdings has invested in companies such as crypto wallet maker Ledger and Yuga Labs, creator of the Bored Ape Yacht Club. (Bloomberg)