PANews reported on July 18 that according to Bloomberg, New York-based venture capital firm CoinFund announced on Tuesday that the new fund has raised $158 million to support early-stage crypto startups. The fund's initial financing goal was $125 million, but the interest received exceeded expectations. CoinFund's latest investment vehicle is its fourth seed fund, which has invested in Giza (a startup that aims to introduce artificial intelligence into smart contracts) and Superstate. With the new capital injection, CoinFund will focus in part on startups at the intersection of encryption and artificial intelligence, and will also continue to invest in tokens.
Alex Felix, chief investment officer at CoinFund, said about 90% of the firm’s transactions involve tokens. Felix said the firm still believes the industry can merge with traditional finance in a regulated way.