6th Man Ventures has raised $145 million for its second crypto fund, which will focus on early-stage investments, according to a report from The Block.
- Partners in the new fund include Galaxy Vision Hill, Three Arrows Capital, Sino Global Capital, FTX Ventures and Animoca Brands, as well as a group of angel investors - including hedge fund billionaire Bill Ackman and Andreeseen Horowitz partners Marc Andreessen and Chris Dixon.
- According to the report, about 20 investments have been made so far from this new fund, which will focus on early-stage projects and write checks of $1 million to $2 million for each deal.
- Dudas, who left his role as CEO of The Block last year to stablecoin firm Paxos, said 6th Man's first fund had $7.4 million in capital and has invested in more than 100 projects.
- Despite the turbulent start to 2022 for digital asset prices, venture capital deals have continued. Recent capital raises include a $650 million fund from Dragonfly Capital, $200 million from Blockchain Coinvestors and a $250 million vehicle from SPiCE VC.