Multicoin Capital stands as a crypto fund based in Texas, and has recently received an investment of an undisclosed amount from none other than Binance. According to Binance itself, this new investment within Multicoin Capital stands as a very unique one indeed. The biggest result of this is that Binance has now established itself as a limited partner within Multicoin Capital.
Multicoin Capital’s Many Ventures
As for Multicoin Capital itself, it stands as a venture capital company based in Austin. The company invests in cryptocurrencies and allows its investors a regulated amount of exposure within the blockchain industry at large. The latest move from the fund, excluding its new partnership with Binance, is that it had recently started to hoard large amounts of the RUNE coin. RUNE stands as the native token of an up-and-coming decentralized cross-chain automatic market maker.
Multicoin Capital was started during the great ICO crazy of 2017, with its first big funding round having occurred two years later, having ended with a total value of $75 million.
The Mandatory Kind Words
Changpeng “CZ” Zhao took this opportunity to give the mandatory kind words for his company’s new partner. The CEO of Binance explained that Multicoin Capital served as a key figure within some of the largest crypto success stories out there. CZ cited the strong work ethic they have when it comes to their investments, highlighting its uncanny eye in identifying (And profiting from) emerging projects that promise to develop disruptive new innovations within the crypto market.
Indeed, a total of 20 investments have been made by Multicoin Capital, all of which early-stage funding for various startups within the financial and blockchain sectors. One of the more notable investments within this list is none other than MathWallet. Through doing so, Multicoin Capital and Binance Lab both took part in, and led, the Series B funding round for MATH.
Tushar Jain Singing Binance’s Praises Now
Through the big investment into Multicoin Capital, Binance will join alongside the likes of Union Square Ventures, Ribbit Capital, and even individuals like David Sacks, the former PayPal CEO, in becoming a limited partner for Multicoin Capital.
Tushar Jain stands as the Managing Partner at Multicoin Capital, and gave a very positive public statement about Binance. According to Jain, Binance is one of the world’s infrastructure providers with the greatest strategic importance when it comes to the blockchain space. As justification, he cited “thousands of hours,” that the firm had spent in the investigation of Binance.
Texas-Based Multicoin Capital Sees Large Investment From Binance