Gumi Cryptos Capital Launches $110m gCC Fund II, Investing in Crypto Startups
Crypto venture capital firm Gumi Cryptos Capital (gCC) has launched a $110 million second fund, gCC Fund II, to invest in about 50 cryptocurrency companies through equity and tokens.
Funding comes from about 60 limited partners, about half of which come from listed companies in Japan. Partners include Hironao Kunimitsu, Rui Zhang and Miko Matsumura.
gCC Fund II will be co-led by the three partners of gCC Fund I, Kunimitsu, Zhang, and Miko Matsumura.
The gCC Fund II will provide early-stage investments in startups such as Decentralized Autonomous Organizations (DAOs), Guilds, Web 3 Applications, Games, and protocols, investing $500,000 to $5 million in each outstanding project.
gCC Fund II has invested in Web 3 education platform ProofofLearn, NFT liquidity aggregator XY Finance, financial NFT platform Solv Finance, Web 3 accelerator, and developer community AllianceDAO.
Hironao Kunimitsu says that:
“We have unique access to both Silicon Valley startup culture and capital markets as well as access to the Japan market. Japan is also home to unique intellectual property assets especially in the fast-growing gaming sector. With our unique geographic advantage, we can help ambitious projects grow faster,”
Bain Capital Ventures, the venture arm of the 37-year-old private equity firm Bain Capital, announced on March 9 that it had launched a $560 million fund focused exclusively on cryptocurrency-related efforts.
Tekin Salimi, a former general partner of crypto venture giant Polychain Capital, announced that he had launched a $125 million fund called dao5 to help provide blockchain startups with early-stage funding in March.
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