New CoinFund fund has raised $158 million to back early-stage crypto startups

Venture capital firm CoinFund has raised $158 million in a new fund to back early-stage crypto startups, according to Bloomberg. CoinFund’s latest investment vehicle is its fourth seed fund, which has invested in Giza (a startup aiming to bring artificial intelligence to smart contracts) and Superstate (planning to combine DeFi and mutual funds). With the new capital infusion, CoinFund will focus in part on startups at the intersection of crypto and artificial intelligence, and will also continue to make token investments. Alex Felix, chief investment officer at CoinFund, said the firm, which does about 90 percent of its transactions involve tokens, remains confident the industry can integrate with traditional finance in a regulated manner.