Crypto VC Firm Robot Ventures Secures $75M in Latest Funding Round

Author

Hongji Feng

Author

Hongji Feng

About Author

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Author Profile

Share

Copied

Last updated: 

August 29, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Robot Ventures has raised $75 million for its latest fund, which will support early-stage crypto startups in a recovering market.

According to a recent Bloomberg report, the new fund was the fourth round with investors including TrueBridge Capital Partners, Haun Ventures, and individual investors like Marc Andreessen.

New Round Triples Robot Ventures’ Total Funding

Robot Ventures, founded in 2018 by Tarun Chitra and Robert Leshner, specializes in backing early-stage blockchain and crypto startups.

The report indicated that the firm uses the firsthand experience of its partners, who also manage their crypto businesses, to identify and support emerging projects with high potential.

“We view ourselves as probably one of the only funds where, ‘hey we’re in the game with you’ because we’re also running companies, we see what’s happening on the ground,” said Chitra.

The latest round of funding has tripled Robot Ventures’ capital base beyond its earlier funds, which totaled $22 million.

Robot Ventures has invested in diverse startups, including EigenLayer, a project that offers developers access to Ethereum‘s staked capital and a decentralized network of validators.

The company also backs Lido Finance, a provider of liquid staking solutions for Ethereum; Flashbots, a provider of blockchain transaction software; and Together AI, an artificial intelligence startup.

Doubling Down on Crypto Startups As Market Recovers

According to the report, the crypto venture market has shown signs of recovery this year, spurred by a notable increase in token prices after hitting a low almost two years ago.

With renewed interest in the sector, Robot Ventures aims to capitalize on this momentum by focusing on early-stage investments that align with the market’s upward trajectory.

“From our experience, one of the things that we found is that, in general, we’ve deployed more capital in bear markets simply because we have the experience of having been to multiple cycles before,” said Leshner.