EXCLUSIVE: Figment Capital seeks $50 million for second venture fund: source by Yogita_Khatri5
The firm did not disclose the size of the fund, but a source with direct knowledge of the matter told The Block that the fund is targeting a raise of $50 million and that the first close has already been completed.
"A number of centralized actors that were trusted ultimately failed us. And we'll continue to see that. So we truly believe that open, permissionless systems that are governed by communities and collectives are really the future," said Parillo.Figment Capital believes everyone will be connected to blockchain technology in the next ten years, and to that end, it thinks better infrastructure and applications are needed.
The fund's investment thesis revolves around these four factors. For scalability, it looks to back projects that will scale blockchains both horizontally and vertically. It will also invest in startups building interoperability solutions, privacy rails and UX products.
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