Standard Crypto Is Raising A $500 Million Fund, According To Report

Venture capital firm Standard Crypto has raised approximately $500 million toward a fund that will invest in both equity and crypto, according to report from Axios.

Axios in its report refers to a source familiar with the process, according to whom the fund will “invest in both equity and crypto.”

Axios wrote:

The firm, founded by an ex-Benchmark and ex-Lightspeed duo, is expecting the fund to close at around that $500 million figure — its hard cap. It had previously sought to raise $150 million for that fund.

Standard Crypto Co-Founder Alok Vasudev appeared on The Scoop podcast earlier this year and discussed non-fungible tokens and decentralized autonomous organizations (DAOs) as areas of interest for VC firms. He said:

“We’ve always likened ourselves as entrepreneur followers rather than being overly thematic about where things are going and trying to develop too much kind of a fund-specific thesis.”

Early positions on protocols and companies such as Aave, Gauntlet, Matrixport, Yuga Labs, OpenSea and Sommelier have helped propel Standard Crypto’s assets under management (AUM) to about $1.5 billion.

Standard Crypto is known for working with its portfolio companies on hiring, token governance and operating nodes.