1kx successfully raised 75 million USD from many large funds

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1kx investment company has just completed a new round of Capital raising with an amount of up to 75 million USD.

1kx successfully raised 75 million USD from many large funds

1kx, an early-stage focused cryptocurrency investment firm, has successfully raised $75 million from multiple industry esteemed institutions.

We are thrilled to announce our new oversubscribed early-stage venture fund to back the best builders in the space.

Thanks @emilyjnicolle at @Bloomberg for sharing the news: https://t.co/2pVDyLGsdE

— 1kx (@1kxnetwork) March 28, 2024

According to information from Bloomberg , 1kx's Capital round received the participation of Andreessen Horowitz (a16z), Accolade Partners, Galaxy Digital and Chris Dixon - a famous American internet investor and entrepreneur.

Chia with the press, a 1kx representative said he would use the new Capital to invest in consumer applications in the field of digital assets. Additionally, the company has also invested in five different projects since it was Capital.

Founded in 2018 by Clausen and Christopher Heymann, 1kx has had many notable investments in the cryptocurrency market, including Staking platform Klin, Pudgy Penguins Non-Fungible Token collection, Rarible and The Sandbox.

1kx has raised $275 million for two funds since the crypto market entered its harshest phase nearly two years ago. Recently, the revival of Capital raising in the field of cryptocurrency startups has been demonstrated through a series of high-value sponsorship deals.

Many experts believe that the emergence of Bitcoin spot ETFs is the driving force that is reversing the industry's Capital raising sector. According to a report from PitchBook, venture Capital investment in crypto startups has increased significantly from the fourth quarter of 2023, reaching $1.9 billion.

Last month, a series of companies announced successful Capital raising, Horowitz even led a funding round of up to 100 million USD for EigenLayer .

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