Archetype, a venture capital firm located in New York City, has successfully secured $100 million for its third investment fund. This fund is specifically designated to support blockchain startups in their early stages, according to the company’s announcement.
The fund, known as Archetype III, boasts a diverse group of backers. These include both returning and new institutional investors such as university endowments, public pension funds, international sovereign wealth organizations, and fund of funds operators.
Archetype has a history of identifying promising ventures early on. One notable example is Privy, a cryptocurrency wallet company within their investment portfolio. Privy was acquired by Stripe earlier in the year.
Another successful investment was US Bitcoin Corp, which recently merged with Hut 8. This strategic move led to a collaborative venture associated with Eric Trump’s American Bitcoin initiative.
Currently, Archetype manages assets totaling roughly $350 million. These holdings include substantial positions in leading cryptocurrencies like Solana and Ethereum, based on company documents.
While specific investments from this new fund have not been made public, Archetype reports that several deals are already underway. The firm intends to prioritize founders focused on creating practical, real-world applications that can broaden crypto’s appeal and accessibility to mainstream consumers.
CoinDesk has contacted Archetype for further details but has not received a response as of the publication time.