Ego Death Capital Closes $100 Million Raise to Scale Bitcoin Companies
Ego Loss of life Capital has closed its second fund, totaling $100 million, to speculate completely in software program corporations constructing companies on the Bitcoin protocol. The agency is positioning itself as a lead Sequence A investor in an ecosystem the place scalable, Bitcoin-native companies are starting to realize optimistic money stream.
“We’re in Bitcoin, investing in true corporations … which might be fixing actual world issues,” stated Nico Lechuga, certainly one of Ego Loss of life’s founding companions, in a press release to Axios.
Not like many enterprise companies unfold throughout the broader digital asset panorama, Ego Loss of life Capital maintains a strict give attention to Bitcoin. The second fund will primarily again Sequence A stage corporations with annual revenues between $1 million and $3 million which might be capital-constrained however exhibiting traction. A small portion of the fund might be allotted to promising seed-stage ventures.
The fund’s traders are principally Bitcoin-aligned household places of work, reflecting a rising urge for food for publicity to companies constructing sustainable, revenue-generating Bitcoin targeted companies.
Lechuga famous that the business lacked a lead investor for Sequence A rounds within the Bitcoin house, a spot Ego Loss of life is now aiming to fill. “We see Bitcoin as the one decentralized and safe base to have the ability to construct on,” Lechuga added.
The fund has already made a couple of early bets, together with investments in:
- Roxom, a Bitcoin-based alternate
- Relai, a Bitcoin financial savings device
- Breez, a funds infrastructure firm constructed on the Lightning Community
The fund’s $100 million elevate follows a robust first shut of $43.35 million announced last year, which noticed distinguished Bitcoin voices like Preston Pysh and Lyn Alden be a part of Ego Loss of life Capital as basic companions. The early commitments signaled sturdy investor confidence within the agency’s imaginative and prescient, which has already led to backing notable startups like Fedi, LN Markets, and extra.
Ego Loss of life Capital is intentionally steering away from speculative crypto initiatives, selecting as an alternative to help corporations that derive their enterprise fashions straight from the Bitcoin protocol. Lechuga believes Bitcoin-based firms offer a better path forward, some are actually producing money stream in BTC, creating alternatives to outperform the underlying asset.
This submit Ego Death Capital Closes $100 Million Raise to Scale Bitcoin Companies first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
