Cryptocurrencies
Fidelity Alumni Raise $250 Million to Target Crypto Startups
- Castle Island Ventures II will target financial services, web3
- Bitcoin price malaise has yet to cool crypto investment action
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Digital-asset firm Castle Island Ventures raised $250 million, the largest amount ever by the four-year-old firm, to target startups involved in building monetary networks, financial services and internet architecture such as web3.
Investors in the Castle Island Ventures III fund include endowments, asset managers and family offices, according to the firm. It’s a big step up for Castle Island -- founded by Fidelity alumni Nic Carter and Matt Walsh -- which previously raised funds of $30 million and $50 million.