Investment Advisor L1 Digital Raised $152M for Its Second Crypto VC Fund

Switzerland-based investment advisor L1 Digital has raised $152 million for its second crypto VC fund, CoinDesk reports. 70% of the funds will be directly invested into crypto startups, and the other 30% into early-stage crypto-focused investment firms.

L1 Digital has $400 million in assets under management. Crypto investment firms backed by L1 Digital include Multicoin Capital, DeFiance Capital, Castle Island Ventures and 1kx. The second fund has already deployed about one-third of its capital. Investments have included institutional credit ecosystem Centrifuge, blockchain developer platform Chroma, crypto custodian Safe, DEX aggregator Li.Fi and treasury management startup Squads.