Lattice Capital is planning to invest in 40 to 50 different companies writing each a cheque of $500,000 to $1.5 million.
On Thursday, August 4, Venture capital firm Lattice Capital announced that it has raised more than $60 million as part of its second crypto fund in the market. The VC firm is popular for making early-stage bets on crypto projects and protocols.
Lattice general partner Mike Zajko said that the recent fundraising has helped the company triple its commitment over the last year. He further added that Lattice is planning to invest in 40 to 50 different companies writing each a cheque of $500,000 to $1.5 million. So far, the company has already invested in nine different crypto projects from its second crypto fund.
Lattice Capital had publicly announced an $11 million investment in Optic last month. This startup uses artificial intelligence (AI) technology to authenticate non-fungible tokens (NFTs). San Francisco-based Optic works on authenticating NFTs minted in thousands every day. Optic co-founder and CEO Andrey Doronichev told CoinDesk:
“Optic isn’t an enforcement business. Our goal is to make the information available and transparent to the ecosystem. Artists and marketplaces can decide what to do with it.”
Standing Out in the VC Landscape
In this overcrowded venture capital industry, Lattice Capital stands out from its peers by personally working with the founders of the company that it invests in. Lattice Capital general partner Regan Bozman said that the company helps in creating the go-to-market strategies while simultaneously focusing on early investments.
Lattice Capital notes that it had strong ties with crypto exchange CoinList. Bozman was among the first employees at CoinList. In addition to working for Lattice Capital, Zajko now looks at sales and partnerships at CoinList. Besides, he also consults other portfolio companies planning for a token launch.
Lattice Capital continues to invest in the crypto space despite the ongoing bear market. Zajko added:
“We continue to be impressed by the talent entering the crypto space and welcome a bear market as an advantageous time for committed investors like us to partner with promising new projects that are as excited to build in a bears as a bull”.
However, with the crypto market in 2022, VC investments have dried up a lot this year. The expected VC investments in crypto this year could be half that of 2021.
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