Crypto Fund Hack VC Looks to Raise Even More Capital for Seed Stage Digital-Asset Bets.

Hack VC, a venture capital firm based in New York, is raising at least $100 million for a new fund that will focus on seed-stage investments in cryptocurrency startups. This comes as digital asset prices are increasing after a period of decline. Hack VC has previously raised a $150 million fund and a $200 million fund in 2022. Other crypto-native VC firms are also taking advantage of the current market conditions, with Hivemind Capital working on a $50 million nonfungible token fund and Framework Ventures co-leading a $69 million round for the Berachain blockchain platform. However, despite the optimism in the VC space, crypto startup funding experienced a significant decline in 2023, dropping to $9.5 billion globally compared to the previous year. Venture firms in crypto raised only $5.8 billion in 2023, down from $37.7 billion in 2022 and $20.6 billion in 2021. [Extracted from the article]