An early-stage venture capital company, looking to invest in crypto, blockchain, fintech, and marketplaces, Electric Capital announced raising $1 B. The VC will use the funds to invest in programmable money and web 3. The sum includes a $400 M fund closed the previous year and $600 M raised last month.
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According to a press release published by the company, Electric Capital will invest $1- $25 M in companies and web 3 economies built on top of the programmable money technology..
Electric Capital finds that 5 key emerging trends in the Web 3 economy are DAOs, NFTs, DeFi, decentralized infrastructure, and accessible user experiences.
The company also mentioned trends that it is interested in funding in every sector. Electric Capital was established in 2018 in Palo Alto, California.
Previously, the company invested in decentralized exchange DYDX, crypto index fund Bitwise, the NEAR blockchain, bug bounty platform Immunefi and DAO-focused company Syndicate Protocol.