Electric Capital Raises $1 Billion to Back Crypto, Web3 and Blockchain-enabled Companies

Electric Capital, a Stanford, CA-based independent, crypto-native venture capital firm, closed $1 billion in capital to fund crypto networks, Web3 protocols, and blockchain-enabled businesses.

Led by Avichal Garg and Curtis Spencer, Electric Capital will continue to invest between $1 million and $20 million in equity and tokens in the following areas:

1. Platforms and protocols that support new communities powered by NFTs and DAOs. 
2. Decentralized Web3 infrastructure that allows engineers to build the next generation of applications without a central point of failure or control. 
3. Decentralized Finance that democratizes access to financial products. 
4. Accessible user experiences that onboard millions of users to Web3.

Electric Capital’s investments already include Bitwise, dYdX, Frax, Gitcoin, Immunefi, Iron Fish, NEAR, Rabbithole, Syndicate, Tokemak, and more. .

Garg and Spencer are successful entrepreneurs with prior experience at Facebook and Google. Prior to starting Electric Capital, they were investors in companies such as Airtable, Boom, Cruise, Figma, Newfront Insurance, Notion, and others. They are early supporters of crypto networks like Bitcoin, Ethereum, Monero, and others.

FinSMEs

02/03/2022