Dao5 Raises $222M Fund to Invest in Projects for Government, Institutional Blockchain Adoption
Crypto investment firm dao5 raised a $222 million fund to invest in blockchain projects targeting institutional and government adoption. The fund brings the firm’s total assets under management to $550 million.
Founded in 2022 by Tekin Salimi, a former partner at Polychain Capital, dao5 made early bets on projects including Story Protocol, Bittensor, Berachain and EigenLayer.
The firm’s first fund, launched during the final days of the last bull market three years ago, was fully deployed and has already returned “the vast majority of commitments to its limited partners,” according to a press release shared with CoinDesk.
“Crypto is entering its adolescence phase. The industry’s dependency on pure speculation as the driver of…
