crypto savings pantera 1 The Future of Crypto: Valkyrie Aims to Raise $30 Million

The Future of Crypto: Valkyrie Aims to Raise $30 Million

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-Crypto asset manager Valkyrie is set to raise $30 million for its venture capital arm, reported TechCrunch.

-Valkyrie has reportedly hired Lluis Pedragosa to lead the new Valkyrie Ventures with his investment experience of over 10 years.

-Valkyries new arm to further web3 investment

-Pedragosa explained that the vertical will be supporting companies providing a web2 user experience with web3 infrastructure, adding, The idea for us is we want to invest in what we call the middleware layer, which is kind of like the infrastructure layer anything that is between an application and the layer one protocols and in what we call web 2.5,

-He also specified that Valkyries funding arm wont be investing Valkyries balance sheet capital but use the external investment from institutions and high net worth individuals (HNIs) to raise the set $25-$30 million in funding.

-According to Pedragosa, the fund is strategic for Valkyrie because it focuses on emerging infrastructure that the company might use for its digital asset management operations, such as security, authentication, compliance, data management, storage, networking, communication, governance, payments, and transactions firms.

-Notably, the news of Valkyries investment arm comes on the back of a crypto market recovery. The global cryptocurrency market cap surpassed $1 trillion on July 20 after weeks of investor fear and uncertainty.

 

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