The global crypto market has been facing a downward trend since the end of 2021. Till now the market has been volatile and facing a downward trend. At that moment, the crypto venture capital firms don’t want to take risks by investing in any other crypto firms. Last 10 years the corporate venture capital firms increased their venture globally by 462.5%. While the crypto crash occurs, the CVCs also fell by 18.9% this year. But Lattice Capital succeeded to raise a $60 million fund in that unfavorable market situation. It tripled the fund by its first fundraising in August last year.
Lattice Capital’s Investment Plans :
The Lattice Capital announced its second successful fundraising. The initial raise was $20 million. This recent fund takes the venture corporation at $80 million. The venture is targeting a bunch of companies to invest in their upcoming projects. The general partner of Lattice Capital, Mike Zajko said that their company is targeting other 40 to 50 companies where they will invest in. The company is prepared to invest $500,000 lakh to $1.5 million per project.
The venture has already invested in nine companies including Optic. That is a web3 startup. It uses artificial intelligence to authenticate non-fungible tokens (NFTs) for investors and creators. Optic managed to raise an $11 million fund last month. It is aiming to create an AI-based platform to assist the creators and collectors to authenticate NFTs.
This web3 project has been invested by Lattice Capital. Another eight companies equally got the funds from the venture. It is a small portion to invest. While 40 to 50 companies are on target to be invested in. The projects are mainly web3 and metaverse platform related. This successful fundraising brought hope to the committed investors in crypto.
According to US Securities Exchange Commission filings, Lattice Capital performed its second crypto fund in February this year. But it was never reported in the public domain till now.
Strategies Of The Venture :
Although a group of experts is teamed up to work with the investment initiative. According to reports, the team will intermediate between Lattice Capital and the other companies that are to be invested.
Lattice Capital stated that they continue to be impressed by the new talent that is entering the market space. They are treating the bear market as a favorable condition for investing. Even, they believe it is an advantageous situation for committed investors like them who aim to partner with new projects. The venture company expresses the excitement to manipulate a bear market as a bull.
Present Situation Of The Market :
The global crypto market has been struggling to retain its value since last year. The last remarkable bull run took the market to $3 trillion in November last year. By the end of the year and starting of the new year, it fell to $1 trillion. The top currencies like Bitcoin, and Ethereum fell in value and became volatile. That led the other cryptos into risk trading. Reports say, in the first six months of this year the global crypto market gained nearly $17.5 billion.
Under these circumstances, corporate venture capital firms slow their investment in other companies. On the other hand, Lattice Capital managed to raise $60 million in its second fundraising. That captured the headlines and manipulated the investors’ sentiment regarding the bearish market. As the company stated that they are aiming to utilize the bearish market and create a bull.
Notably, web3 and metaverse projects became a crucial portion of every crypto firm. Primarily, the gaming platforms are going to dominate the crypto market within the next few years.