Temasek-backed Blockchain VC Superscrypt Raises $100 Million for Second Fund
Temasek-backed Blockchain VC Superscrypt Raises $100 Million for Second FundNovember 2, [Year] Superscrypt, a blockchain venture capital firm backed by Temasek Holdings, is aiming to raise up to $100 million for its second investment fund, informed sources have revealed. According to sources, Temasek, the Singaporean state investment company, and New York-based fintech firm Republic have both committed as anchor investors in the new fund
Temasek-backed Blockchain VC Superscrypt Raises $100 Million for Second Fund
November 2, [Year] Superscrypt, a blockchain venture capital firm backed by Temasek Holdings, is aiming to raise up to $100 million for its second investment fund, informed sources have revealed.
According to sources, Temasek, the Singaporean state investment company, and New York-based fintech firm Republic have both committed as anchor investors in the new fund. Temasek and Republic will jointly serve as general partners for the fund.
The fundraising process is reportedly ongoing, and the final amount could differ. Superscrypt, a venture capital firm focused on blockchain and cryptocurrency, launched its first fund with a size of $50 million. Its portfolio includes notable blockchain projects like decentralized exchange Uniswap, cryptocurrency payment company Circle, and decentralized finance platform Aave.
As a seasoned institutional investor with extensive experience, Temasek's foray into blockchain has garnered significant attention. The company invested in cryptocurrency exchange Coinbase in 2021 and has collaborated with blockchain startups on investments. This investment in Superscrypt demonstrates Temasek's continued bullishness on the blockchain sector and its desire to capitalize on promising blockchain projects.
Republic, a fintech company, has also been actively expanding its presence in the blockchain space. Republic focuses on providing financing for startups and has partnered with cryptocurrency exchanges to launch cryptocurrency token issuance platforms. Their joint investment in Superscrypt alongside Temasek reflects their confidence in the blockchain investment market.
The successful fundraising for Superscrypt's second fund signals the sustained vibrancy of the blockchain venture capital market, attracting a growing number of institutional investors. As blockchain technology continues to evolve and its application scenarios expand, the blockchain venture capital market is poised for further growth opportunities.
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