Crypto Venture Capital Firm OP Crypto Launches $100M Fund to Support Fund Managers

OP Crypto, a cryptocurrency venture capital firm founded by former Huobi executive David Gan, is launching a new fund named “OP Funds of Funds I,” designed to support fund managers focused on early-stage crypto investments.

The founder and general partner at OP Crypto, Gan, described the fund as both a diversifying and strategic vehicle for investors. The Fund of Funds I (FoF I) will focus on specific sectors of the industry including infrastructure, decentralized finance (DeFi), non-fungible tokens (NFTs), metaverse, gaming and those with a geographical advantage in Latin America, Africa, India and Southeast Asia. 

Gan will team up with OP Crypto’s COO and head of research Lucas He. Both Gan and He worked at Huobi where they seeded the first funds of managers like Multicoin Capital, Dragonfly Capital and 1kx. 

Currently, the fund has secured $50 million in commitments from major companies includingLedgerPrime and FJ Labs. FoF I has a hard cap at $100 million and plans to close out the fund by the end of Q3. Gan plans to release the fund over the course of a few years in order to spread it across the market evenly. 

This follows a $50 million fund the firm raised a few months ago called OP Ventures Fund, which is backed by Alan Howard, Bill Ackman, Animoca Brands, Digital Currency Group and Galaxy Digital. 

Author: Tyler irvin

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