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Investment platform Republic is raising $700 million for two cryptocurrency-focused funds, as reported by online media outlet Axios.
The funds include a $200 million flagship venture fund and a $500 million dedicated crypto fund respectively.
The venture fund will invest 20% of its capital in cryptocurrencies, while the other 80% will be invested in equity investments in web3, fintech, and deep tech.
The crypto fund in this round would focus on supporting late-stage protocols.
Currently, Republic Capital has invested in more than 100 companies since its inception in January 2019. Republic Capital led a $50 million round in Flipside Crypto, which provides blockchain analytics and business intelligence to Crypto companies, boosting its valuation tenfold to $350 million.
Republic also recently participated in a $135 million fundraising for CoinDCX, India’s largest cryptocurrency exchange
According to the company, their team has been working on raising funds for outstanding crypto projects, including DeFi protocol Ratio Finance and Solana-based money management solution Zebec.
Republic capital is also supported by companies such as Galaxy Digital, The Motley Fool, Binance, Naspers, AngelList, and has global teams in six countries.
Republic has raised a total of $214 million in 12 funding rounds. Their latest funding round was on November 12, 2021, with a Series B round led by Valor Equity Partners.
The company has also raised more than $20 million through the sale of crypto tokens. Republic has received more than $500 million in investments from more than 1 million global community members.
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