Report: Polychain Capital and Coinfund raise $350M for new crypto funds

Polychain Capital and Coinfund, two crypto venture capital firms, raised a total of $350 million for their new investment funds.

Polychain raised $200M for its fourth fund and plans to raise a total of $400 million.

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Coinfund raised $152M for its fourth seed fund, surpassing its initial goal of $125 million. Despite the decline in VC funding for crypto projects over the past year, both firms were able to attract significant investments.

Many investors have become cautious about the crypto sector due to previous project collapses, leading them to focus more on traditional markets. However, the artificial intelligence industry has seen substantial venture funding, with over $12 billion invested as of January 1.

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