OP Crypto raising $100M for ‘Fund of Funds’ to back fund managers – TechCrunch
— Bear markets, Commitments, State, General partner, Research, Gan previously worked, India, First funds, 100m, Really good sector — 1 min read
Venture capital firm OP Crypto is raising $100 million for its new investment, dubbed “Fund of Funds” The firm has received $50 million in commitments from both traditional and crypto-focused LPs, including LedgerPrime and FJ Labs. The fund will be focussing on supporting fund managers from certain sub sectors like infrastructure, decentralized finance, NFTs, metaverse, gaming and those with a “geographical advantage” in Latin America, Africa, India and Southeast Asia. The firm plans to deploy the new fund over a number of years, with an even spread of exposure in bull and bear markets, founder David Gan said. OP Crypto’s flagship venture vehicle, OP Ventures Fund, is backed by Alan Howard and Bill Ackman. Source