Lemniscap Raises $70 Million To Support Web3 Investments
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Thesis-driven investment firm, Lemniscap, has completed a $70 million funding round. The firm wants to use the additional funds to offer strategic guidance and financial backing for web3 startups.
The firm will focus on a wide range of tasks across the blockchain system. Some of the company’s major areas of interest include Decentralized physical infrastructure, Security, emerging Bitcoin ecosystem, Consumer Applications, and Zero-Knowledge Infrastructure.
Lemniscap Wants To Help The Web3 Sector Grow And Expand
The funding was led by Accolade Partners, a US-based venture capital specializing in blockchain fund investments, growth equity, and early-stage VC.
Lemniscap started operations in 2017. It was launched by Roderik Graaf, who has worked for some of the world’s largest financial institutions like Bear Steams, Rabobank, HSBC, and Deutsche Bank. After his experience with these renowned companies, he decided to launch his own with a team made up of crypto-native veterans.
Since the launch of the firm, the first team has remained strong together as they plan out a long-term goal to power a decentralized and transparent future.
Graaf stated that the firm’s focus has always been to maintain its reputation and become one of the renowned brands in the industry.
He stated that the latest funding will give the firm massive financial firepower to offer support to the next generation of ambitious and innovative industry pioneers.
Lemniscap Has Expanded Its Portfolio And Made More Than 130 Investments
Lemniscap has set up and managed several funds, and outperformed market peers and industry benchmarks. The company raised its first fund towards the end of 2017 before the market declined in 2018.
However, the downturn did not prevent Lemniscap from looking for quality projects. Graaf said while many startups at the time were unable to sustain themselves, Lemniscap endured and remained focused on its goals.
Now, the bets the company placed have started yielding results. Lemniscap’s investment rationale and foundational market thesis have remained the same throughout the periods of regulatory uncertainty and market volatility.
The company says it has made more than 130 investments to date, as it has become one of the industry’s conviction allocators and lead investors.
The firm has expanded its portfolio to include important investment solutions and top protocols in the web3 space. It has also drawn interest from major firms such as Aligned Layer, LN Markets, Paragraph, StepN, Axelar, The Graph, and Avalanche. Others include Anoma, Monad, Puffer, and Eigen Layer.
