Parafi Capital Secures $120M Amid Crypto Market Rebound
Leading digital asset management company Parafi Capital has raised $120 million from notable investors, such as Accolade Partners and Theta Capital Management. This significant financial inflow coincides with a more optimistic outlook for the cryptocurrency sector, as prices for digital assets are beginning to rise this year.
Strategic Investments and Future Plans
Since its founding in 2018, Parafi Capital has made a number of investments in different digital asset businesses. The company just took part in the $10 million Series A fundraising round led by Parfin. With a view to building a portfolio of up to 50 stakes over the next three to five years, Parafi Capital intends to use a portion of its new funding to purchase general-partner (GP) holdings in other cryptocurrency funds.
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Broader Investment Trends and Sector Activity
This funding achievement comes after Lemniscap, a blockchain-focused venture capital firm, raised $70 million to fund entrepreneurs in industries including decentralized physical infrastructure (DePIN) and zero-knowledge infrastructure. Accolade Partners is supporting Lemniscap’s endeavors as well.
Moreover, numerous businesses associated with cryptocurrencies are also raising a significant sum of money. The wireless internet service provider Andrena, in collaboration with Dragonfly and Parafi, raised $18 million for their decentralized autonomous wireless network, or DAWN.
To improve its open-source platform for blockchain-based games, Cartridge, a game creation firm, raised $7.5 million in a Series A financing sponsored by BITKRAFT Ventures.
Read More: ‘Pig Butchering’ Scams Remain Major Crypto Threat
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