Key Takeaways
- • Archetype, an early-stage crypto venture firm, said on Tuesday it has more than $100 million in total capital commitments for its third fund, Archetype III.
- • Capital from Archetype III has already been deployed into investments that the firm has not yet announced, according to a company statement.
- • Investors include institutional investors, pensions, academic endowments, sovereign wealth funds, and family offices, per Archetype.
- • The raise comes as over $11 billion has been invested in digital asset firms so far this year, according to The Block data, with the digital asset treasury boom accounting for over $20 billion of funding.
Summary
Archetype, an early-stage crypto venture firm, said on Tuesday that it has over $100 million in "total capital commitments" for its third fund, Archetype III, according to a statement from the firm. The fund's capital has already been deployed across investments the firm has yet to announce.
Founder and General Partner Ash Egan framed the close as a reflection of "our investors' persistent conviction in our team as stewards of capital." Egan said blockchains are becoming "the commerce rails of the world" and that crypto's "ChatGPT moment" will emerge on onchain infrastructure and creator tooling.
Investors in the latest fund include institutional investors, pensions, academic endowments, sovereign wealth funds, and family offices, Archetype said. The firm launched in 2021 to back early-stage blockchain companies. Per the publisher's reporting, it raised a first fund of $55 million in 2021 and a second fund of $155 million in 2022, at the height of the last crypto cycle. Archetype says it is focused on onchain social networks, stablecoins, payments, crypto AI, the modular protocol stack, decentralized physical infrastructure networks (DePIN), and mobile apps built on crypto rails.
Previous portfolio companies include Privy, Monad, Hut 8, Farcaster, Ritual, and Relay. Earlier this year, Archetype invested in The Ether Machine, an Ethereum digital asset treasury company. Co-founder and chairman Andrew Keys said he has worked with Egan since both were at Consensys in 2018 and is "thrilled to continue supporting him as a third time LP in Archetype III."
The Block data cited in the report shows over $11 billion invested in digital asset firms so far this year, with the digital asset treasury boom accounting for more than $20 billion in funding.
Founder and General Partner Ash Egan framed the close as a reflection of "our investors' persistent conviction in our team as stewards of capital." Egan said blockchains are becoming "the commerce rails of the world" and that crypto's "ChatGPT moment" will emerge on onchain infrastructure and creator tooling.
Investors in the latest fund include institutional investors, pensions, academic endowments, sovereign wealth funds, and family offices, Archetype said. The firm launched in 2021 to back early-stage blockchain companies. Per the publisher's reporting, it raised a first fund of $55 million in 2021 and a second fund of $155 million in 2022, at the height of the last crypto cycle. Archetype says it is focused on onchain social networks, stablecoins, payments, crypto AI, the modular protocol stack, decentralized physical infrastructure networks (DePIN), and mobile apps built on crypto rails.
Previous portfolio companies include Privy, Monad, Hut 8, Farcaster, Ritual, and Relay. Earlier this year, Archetype invested in The Ether Machine, an Ethereum digital asset treasury company. Co-founder and chairman Andrew Keys said he has worked with Egan since both were at Consensys in 2018 and is "thrilled to continue supporting him as a third time LP in Archetype III."
The Block data cited in the report shows over $11 billion invested in digital asset firms so far this year, with the digital asset treasury boom accounting for more than $20 billion in funding.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.