Gumi Cryptos Capital (gCC), a cryptocurrency venture capital (VC) firm, has announced the launch of gCC Fund II, a $110 million initial funding that will invest in both equities and tokens. Nearly 60 limited partners contributed funds, with about half coming from Japan, primarily from publicly traded corporations. According to gCC partner Rui Zhang, the remaining monies came from family offices and private equity companies in the United States and Europe.
Andreessen Horowitz’s $2.2 billion fund in the summer and Paradigm’s $2.5 billion fund in November helped in achieving new highs.
The funding utilization strategy for gCC Fund II
gCC Fund II will make investments ranging from $500,000 to $5 million per project. The organization intends to invest in about 50 portfolio firms. Decentralized autonomous organisations (DAOs), guilds, Web 3 applications, games, and protocols are all areas of interest.
Web 3 education platform ProofofLearn, NFT liquidity aggregator XY Finance, financial NFT platform Solv Finance, and Web 3 accelerator and developer community AllianceDAO have all officially confirmed their financing from gCC Fund II. The VC company will provide portfolio leaders with operational assistance, including legal and financial consultants, token economy design, token liquidity, and market making partners.
gCC Fund I has three partners: Kunimitsu, Zhang, and Miko Matsumura. The new fund raised its asset value from $21 million to $516 million with 36 portfolio firms.
OpenSea, a non-fungible token (NFT) marketplace, and Yield Guild Games, a play-to-earn gaming guild, were among the fund’s first investments.
 firm, has announced the launch of gCC Fund II, a $110 million initial funding.){kind=link}