Framework Ventures unveils $400 million fund called "FVIII"

Overview of investment & funding activities in W16

In the TOP 10 most famous investments & sponsorship deals in the past week, we have:

• 3 NFT projects: LimeWire, Rario, Mintbase.
• 2 Ventures Capital: Framework Ventures, Kucoin Ventures.
• 1 borrowing/lending project: Bastion.
• 1 CEX exchange: CoinDCX.
• 1 infrastructure project: BlockApps.
• 1 data management project: Spruce.
• 1 scaling solution project: Scroll.

Companies and Ventures Capital fundraisings

Projects that already have Tokens and still receive additional investments proves that they have new products, new segments, and need more money to develop. This news will greatly affect the nature and price of the tokens, so please refer to it for more investment perspectives.

Kucoin Ventures and the $100M Fund 

What is Kucoin Ventures?

Kucoin Ventures is the venture capital arm of Kucoin. KuCoin is a cryptocurrency exchange established on September 15, 2017 in Hong Kong. Before that, the headquarters of the exchange was located in China. Kucoin Ventures has invested in 9 projects so far, worth to mention such as POKT, Blofin or Heroes Chained.

Purpose of the “Creator Fund”:

Creator Fund is a Fund created by Kucoin Ventures and Windvane (Kucoin's NFT exchange). This Fund was created for the purpose of funding NFT projects in the fields of art, sports and gamefi. This $100 M “Creator Fund” package will help promising NFT projects and artists have a stable support to continue contributing to the NFT market.

Framework Ventures raised $400 M

What is Framework Ventures?

Framework Ventures was founded in 2019. Framework is a gathering of a group of technologists, researchers and investors in Crypto, Framework not only reaches and invests in Crypto projects but also participates in building. Products and services to support these projects.

Goals after the funding round: The capital raised this time is for the 3rd Fund of Framework, called “FVIII”. FVIII is a Fund for blockchain gaming, Web3 and DeFi products. According to the Foundation's estimates, more than 50% of the value of FVIII will go to blockchain gaming projects. The total value of assets managed by the Framework increased to $1.4B after the closing of the FVIII package.

Projects that already have Tokens

LimeWire (LMWR) raised $10.4 M in a private sale

What is LimeWire?

LimeWire is an NFT exchange. Unlike other NFT exchanges, LimeWire focuses on music, art and entertainment. At LimeWire, users can easily create, sell and buy NFTs.

Famous Venture Capitals participating in the funding round:

• Arrington XRP Capital: A venture capital fund established in 2017. The fund is headquartered in Washington, USA. Focusing on investing in the blockchain field with more than 78 capital injections, such as POKT Network or Immutable X.
• Kraken Ventures: Venture capital arm of cryptocurrency exchange Kraken.

Goals after the funding round: The capital will be used first to expand the staff, find more new partners. Especially to attract more musicians to LimeWire.

Bastion (BTSN) raised $9 M in Series A round

What is Bastion?

Bastion is a decentralized lending and borrowing protocol on Aurora, enabling users to participate in the DeFi market in the most optimal way with interest rates calculated based on the total supply and demand of users. Bastion stands out among lending protocols when focusing on developing tokenomics, minimizing DeFi risks, improving user experience and project UX.

Famous Venture Capitals participating in the funding round:

• Three Arrows Capital (3AC): A hedge fund, founded in 2012 and focused on finding high returns with low risk, founded by Su Zhu and Kyle Davies.
• FTX Ventures: The venture capital arm of crypto exchange FTX.

Goals after the funding round: The amount of capital will be used for Bastion to realize its upcoming goals. Bastion is about to launch new features like leveraged yield farming, launch more Realms (Bastion's special feature) and listing more tokens.

Projects without tokens

Projects that do not have Tokens and are invested in may be able to develop and build their basic foundations.

For the project itself, the supporters in this phase are very meaningful to them, so the list below may not help you in investing, but it helps in choosing potential projects to learn about. You can look for opportunities such as participating in Testnet, IDO,...

CoinDCX raised $135 M

What is CoinDCX?

CoinDCX is a centralized cryptocurrency exchange (CEX). CoinDCX mainly targets the Indian market, where people are very interested in the crypto market. The assets currently being traded on CoinDCX are also very diverse. Recently, CoinDCX has listed Waves tokens (WAVES). This exchange is considered as a leading cryptocurrency exchange in the Indian market.

Famous Venture Capitals participating in the funding round:

• Pantera Capital: A famous investment fund led by Dan Morehead. Pantera has invested in more than 80 large and small blockchain companies and 65 seed-stage projects. Pantera has invested in many famous companies and projects such as Circle, Coinbase, Ripple.
• Steadview Capital: A leading investment firm founded in 2009, headquartered in London. This is a multi-sector investment fund with more than 5 billion dollars under management.

Goals after the funding round: The capital will be used to develop business issues for CoinDCX. According to the report recently, CoinDCX's company value has more than doubled in less than a year, from $1.1B to $2.5B after the last round of funding.

Rario raised $120 M in Series A round

What is Rario?

Rario is an NFT platform for the sport called Cricket. Cricket is a very famous sport in Australia and is loved by many people. Rario is an NFT trading platform where cricket lovers gather and exchange. Rario has had many NFTs sales of and most of them have been sold out. Over the past week, Rario has successfully raised $120 M for a Series A round.

Famous Venture Capitals participating in the funding round:

• Dream Capital: The investment arm of Dream Sports, a company focused in the sports sector. Dream Capital is a multi-round investment fund, and also only focuses on investing in projects in the sports category.

Goals after the funding round: Besides the money invested by Dream Capital to develop the project, Rario also has the ability to reach more than 140 million users of Dream Sports. Recently, Rario has successfully cooperated with two leading Australian cricket organizations, Cricket Australia and Australian Cricketer's Association.

BlockApps raised $41 M

What is BlockApps?

BlockApps is a project from the Consensys ecosystem, founded in 2015 under the name STRATO. BlockApps is a project that provides blockchain infrastructure for large and small global businesses and companies. BlockApps products include TraceCarbon, TraceHarvest, and Genesis.

Famous Venture Capitals participating in the funding round:

• Liberty City Ventures: Venture capital company founded in 2012 by Andrew Chang and Dorothy Jean Chang. The company focuses on investments in areas such as technology, telecommunications, advertising and entertainment.
• Morgan Creek Digital: A hedge fund, whose parent company is Morgan Creek Capital. A company specializing in providing investment services to the elite.

Goals after the funding round: The fresh capital will be used for the business of BlockApps. Add more features on blockchain for STRATO and expand the project team.

Spruce raised $34 M in Series A round

What is Spruce?

Spruce is an infrastructure system that helps users manage their data in the Web 3 ecosystem. Spruce's two main products are SpruceID and Kepler. SpruceID is a set of open-source tools for users to manage information easily. Besides, Kepler is a decentralized data store where users are in complete control of their data.

Famous Venture Capitals participating in the funding round:

• a16z: An investment fund founded in 2009 by Marc Andreessen and Ben Horowitz. This is an investment fund operating in Silicon Valley, California and focusing on investing in technology startups, the Fund is also a well-known market maker.
• Okta Ventures: Investment arm of Okta, a world leader in identity and data management (same category as Spruce).

Goals after the funding round: With the new funding, Spruce will spearhead research in cutting-edge privacy and usability technology for identity, grow its product teams, and continue to execute on partnerships across the ecosystem.

Scroll raised $30 M in Series A round

What is Scroll?

Scroll is a scaling solution for Ethereum. This project uses zk-Rollup technology, specifically here zkEVM. zkEVM, which can generate zk proofs for general EVM verification. This allows the Scroll team to build a fully EVM-compatible zk-Rollup, which any existing Ethereum application can easily migrate to.

Famous Venture Capitals participating in the funding round:

• Bain Capital: An American private equity firm headquartered in Boston, Massachusetts. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, and real estate.
• Polychain Capital: One of the largest hedge funds in the cryptocurrency market, established in 2016 with more than $2 billion under the fund's management.

Goals after the funding round:With fresh capital in hand, Scroll plans to increase its team size and launch a testnet.

Mintbase raised $7.5M Series A & $5M from Grants Program

What is Mintbase?

Mintbase is an app that allows anyone to create, trade and exchange NFTs with low fees and fast transaction speeds. This protocol also allows token minters to customize royalty fees and other token parameters, allowing them to set up shops and buy and sell NFTs. This past week Mintbase announced the completion of a Series A funding round and included an additional $5 M NEAR grant.

Famous Venture Capitals participating in the funding round:

• Coinbase Ventures: The venture capital arm of the Coinbase exchange.
• Animoca Brands: The leader in the blockchain gaming market. As a publisher for big, familiar games on blockchain such as REVV Racing, The Sandbox. Animoca Brands also regularly pours large capital into blockchain entertainment startups.

Goals after the funding round: The capital will be used for Mintbase to focus on developing its ecosystem. In addition to supporting developers and entrepreneurs on Mintbase. The capital is also used to upgrade the system and interface for the project.

Aura Network raised $2.5 M seed round

What is Aura Network?

Aura Network is a Layer-1 blockchain platform focused on developing and scaling NFT, maximizing the use of NFT across various industries. Aura Network is a protocol that allows users to mint, rate, track data or participate in NFT transactions, all with the goal of helping to build a solid infrastructure to support various types of trading assets on the market. decentralized financial market in a simpler and easier way.

Famous Venture Capitals participating in the funding round:

• Coin98 Ventures: Investment arm of Coin98.
• KuCoin Labs: The investment and research and development arm of the KuCoin exchange.
• There are also many large investment funds such as: Kyber Ventures, GBV, Avalanche Foundation's Avatar.

Goals after the funding round: The fresh capital will be used to leverage the adoption of NFTs and accelerate its vision of building an interoperable future for Internet users.

Conclusion

This is the end of the TOP 10 most outstanding investment deals in the past week. Hopefully, through this article, you will have an overview of the projects that have raised capital during the week.

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