Key Takeaways
- • Lowenstein Sandler LLP represented 6th Man Ventures, a venture capital firm founded by Mike Dudas and Serge Kassardjian, in forming its second crypto fund, a $145 million vehicle focused on early-stage investments.
- • Lowenstein also served as counsel on 6th Man's first fund, indicating a continuing relationship between the firm and the venture manager.
- • Dudas plans to target three areas: play-to-earn gaming and metaverse projects, web3 networks and DAOs, and crypto infrastructure.
- • Per a separate report, 6th Man has raised $145 million for the fund, while another publication described the amount as $140 million of a targeted $145 million, so the final close figure is not confirmed in the primary source.
Summary
Lowenstein Sandler LLP announced on May 12, 2022 that it represented 6th Man Ventures in the formation of the firm's second crypto fund, a $145 million vehicle focused on early-stage investments. 6th Man Ventures is a venture capital firm founded by Mike Dudas and Serge Kassardjian. Lowenstein also worked with the firm on its first fund.
6th Man has backed several crypto projects, including NFT marketplace Magic Eden, STEPN, a startup that gamifies exercise, Rainbow Wallet, and Etherscan. For the new fund, Dudas is targeting three areas: play-to-earn gaming and metaverse projects, web3 networks and Decentralized Autonomous Organizations (DAOs), and crypto infrastructure.
Lowenstein attorneys Eric Weiner, Edward Nadel, Scott Balterman, and Jeremy Cantor represented 6th Man Ventures. The firm described itself as a national law firm with over 350 lawyers, with particular emphasis on investment funds, life sciences, and technology.
Separate industry coverage describes fundraising progress differently. One report said Dudas had amassed the bulk of the $145 million from crypto investors, while another said the firm had raised $140 million of a targeted $145 million. These accounts are consistent with a fund in the final stages of closing, but the publicly reported final size should be confirmed against the fund's own disclosures.
6th Man has backed several crypto projects, including NFT marketplace Magic Eden, STEPN, a startup that gamifies exercise, Rainbow Wallet, and Etherscan. For the new fund, Dudas is targeting three areas: play-to-earn gaming and metaverse projects, web3 networks and Decentralized Autonomous Organizations (DAOs), and crypto infrastructure.
Lowenstein attorneys Eric Weiner, Edward Nadel, Scott Balterman, and Jeremy Cantor represented 6th Man Ventures. The firm described itself as a national law firm with over 350 lawyers, with particular emphasis on investment funds, life sciences, and technology.
Separate industry coverage describes fundraising progress differently. One report said Dudas had amassed the bulk of the $145 million from crypto investors, while another said the firm had raised $140 million of a targeted $145 million. These accounts are consistent with a fund in the final stages of closing, but the publicly reported final size should be confirmed against the fund's own disclosures.
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