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Arca Raises $30m For First Digital-Assets Venture Fund

The fundraise counts a commitment of an undisclosed size from crypto investment firm Galaxy Vision Hill

Digital-assets investment firm Arca has raised $30 million for its first venture-capital fund. 

The Arca Endeavor Fund had investors seeking additional capacity above its $30 million cap. The oversubscribed fundraise includes a commitment of an undisclosed size from a fund-of-funds run by Galaxy Vision Hill, known as GVH Venture. 

The fund plans to put capital to work in earlier-stage investment opportunities, then the firm's flagship hedge fund, Digital Assets Fund. 

It's not clear exactly when the venture-capital vehicle launched, but the company said it has already made several initial investments. Those investments are in a number of crypto sectors, including decentralized finance (DeFi), gaming, web 3.0, NFTs and crypto-linked insurance products. 

Its investment focus includes seed rounds, Series A participation and pre-seed token stakes. 

Arca principal David Nage, a veteran of the family office space focused on emerging technologies, is Arca Endeavor Fund's portfolio manager. Assisting Nage is Michael Dershewitz, Arca's COO, who previously spent time at Amazon. 

Rounding out the team as chair of the fund's investment committee: Arca CIO Jeff Doorman, who also serves as portfolio manager of Digital Assets Fund.

"Digital assets have fundamentally changed the dynamic between founders and investors, and The Arca Endeavor Fund bridges the gap between the two,” Nage said in a statement. “The Endeavor Fund signifies the shift in new social and economic paradigms occurring, creating new ways to serve the unbanked, and alter the models of the past few decades of tech exuberance."

Arca launched its flagship hedge fund in 2018, when the vehicle started focusing on small- and mid-cap cryptocurrencies.   

Digital-assets investment firm Arca has raised $30 million for its first venture-capital fund. 

The Arca Endeavor Fund had investors seeking additional capacity above its $30 million cap. The oversubscribed fundraise includes a commitment of an undisclosed size from a fund-of-funds run by Galaxy Vision Hill, known as GVH Venture. 

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