Ego Death Capitala venture capital fund focused on investing in bitcoin technology startups, has announced the successful first close of its second $100 million fund.
The fund has already raised $43.35 million in commitments from investors, highlighting the strong interest in backing the next wave of bitcoin companies. Ego Death has previously backed leading startups such as Relai, Breez, Fedi, LN Markets and others.
Founded by Jeff Booth, Andi Pitt, and Nico Lechuga, Ego Death Capital is targeting Series A investments in fast-growing bitcoin startups with this fund. Preston Pysh and Lyn Alden have also recently joined them as general partners in the second fund.
The successful first close demonstrates the growing appetite of investors to allocate capital to the expanding bitcoin technology sector.
According to Nico Lechuga, founding partner at Ego Death, “While there are several bitcoin-only VC funds investing at the early stage, there was no Series A-focused fund to support the rapidly developing ecosystem.”
Jeff Booth commented: “There are hardly any words to describe the feeling of having a prominent place in creating value in a protocol that brings truth, hope and abundance to 8 billion people.”
The ability of major venture funds to raise significant funding focused exclusively on bitcoin startups is a sign of the maturity and growth of the ecosystem at large. Greater access to late-stage capital will accelerate the development and use of bitcoin technology.
