Share this article
Multicoin Raises $100M for New Crypto Venture Fund
The Texas-based crypto investment firm has lined up another nine-figure venture fund in its search for explosive blockchain startups.
By Danny Nelson
Updated May 9, 2023, 3:18 a.m. Published May 4, 2021, 2:01 p.m.
Multicoin Capital’s Tushar Jain flashes big-baller crypto startups with his “Shut up and take my money!” poster when their pitch lands like no other. The early-stage backer just secured funding for another $100 million in Multicoin bets.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Austin, Texas-based crypto investment firm went public Tuesday with its second fund in four years. Backed by undisclosed institutional liquidity providers (LP) and a smattering of crypto founders, the fund is already “active,” said Jain.
Multicoin is looking to turn that activity into Helium-sized wins. Multicoin’s first fund went long and large on the internet-of-things startup in 2019, and in the past 12 months reaped the token’s 6,800%+ return. It’s one of the “weird and different” projects Jain seeks out.
News of Multicoin's new fund comes on the heels of a reported $1 billion crypto venture fund from VC giant Andreessen Horowitz. With leading coins near or above all-time highs and Coinbase surging on the Nasdaq, the timing is right for new capital to hit the market.
Multicoin prefers “making investments that are in categories that people are not taking seriously yet, or don't realize,” Jain said.
Read more: Binance Invests in Multicoin Capital Crypto Fund
For the next few years, Multicoin’s 11-person team will look to fund the crypto companies others might miss. The VC also elevated the investment team’s Matt Shapiro, Mable Jiang and communications director John Robert Reed to partner.
A blog post said Venture II bets can be as small as $500,000 or stretch into the hundreds of millions of dollars if Multicoin’s hedge fund gets involved. There’s a preference for early-stage companies as well as those with tokens.
Jain said he wants to back blockchain startups building “sovereign software” for a broad user base. He described blockchain projects’ decentralized mission as inherently copacetic to the do-gooder ideals of environmental, social and corporate governance (ESG) investing.
“I think blockchain is like the best social good in the world,” he said.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
