Portal Ventures’ new fund will back pre-seed rounds for crypto startups, aligning with the growing VC focus on early-stage activity in 2024.
Portal Ventures has closed its second fund, raising $75 million to invest in pre-seed Web3 startups.
The fund includes backing from investors such as a16z’s Marc Andreessen and Chris Dixon, along with the contribution of funds of funds, including Accolade Partners, Theta Capital, and CrossLayer Capital.
The venture firm is based in New York City and claims to have invested in crypto startups even before a white paper or pitch deck had been drafted. According to Crunchbase, its portfolio includes startups like Plume Network — offering real-world asset tokenization — and crypto lending platform Arch.
