Digital Asset Firm Castle Island Ventures Raises $250M to Target Web3 Crypto Startups

blockchain.news:

Digital asset company Castle Island Ventures completed the largest financing in history, up to $250 million to invest in startups focused on building currency networks, financial services and Internet architecture, such as web3.

Castle Island Ventures is a venture capital firm founded by Fidelity alumni Nic Carter and Matt Walsh, focused on public blockchains. They invest in infrastructure and application companies that will enable these transformative protocols to power services for the next billion users.

Castle Island Ventures has raised a total of $30M across 2 funds.

Walsh expressed his hope that in addition to leading the pre-seed stage investment of excellent blockchain startups, he also hopes to lead more excellent web3 companies in Series A investment.

Walsh said in a phone interview with Bloomberg：

“The market opportunity and the wave of entrepreneurs that are actually starting things is just a lot bigger. The way we've reacted to the explosion in the space is to beef up our team and give ourselves the ability to go out and be a lot more aggressive in deploying capital in some of these companies.”

As reported by blockchain.News on January 21, Wallet Street Venture Capital firm, Andreessen Horowitz (a16Z) is rallying investors for a $4.5 billion dual fund targeted at making strategic investments in the cryptocurrency ecosystem.

$3.5 billion is billed to be earmarked for its newest cryptocurrency enterprise fund, while $1 billion will be reserved for strategic investments in crypto startups seeking seed funding.

Investments pumped into blockchain startups topped $30 billion in 2021, a figure that surpasses funding received in 2018, 2019, and 2020 combined.