Billionaire Chamath Palihapitiya's Social Capital will raise $3 billion for its cryptocurrency fund

2022-10-01 12:27:56

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According to ChainCatcher news, citing two informed sources from BlockWorks, billionaire Chamath Palihapitiya's Social Capital is raising at least $3 billion for a cryptocurrency venture capital fund.

Social Capital has been purchasing Bitcoin since 2013, and has also invested in the NFT market SuperRare and Solana blockchain-based Sabre Labs. The new fund is Social Capital's fifth fund, with reportedly $1 billion allocated for early-stage startups (with individual investments ranging from $10 million to $20 million), $1 billion for later-stage companies (with individual investments ranging from $100 million to $200 million), and $1 billion for equity investments in companies at different stages of development (with individual investments ranging from $250 million to $450 million). (source link)

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Social venture capital Solana SuperRare

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