BlockTower has spun off its venture capital division into Strobe Ventures and plans to raise $100 million for its second fund

ChainCatcher news, according to Blockworks, former Blocktower Capital venture team members Thomas Klocanas, Steven Venino, and Winnie Lau have founded a new company, Strobe, and plan to raise $100 million for its second fund.

The team is currently still deploying its first $150 million fund, which is expected to be completed by the end of this year. Klocanas stated that establishing an independent company allows the team to maintain a lean structure, focus on venture capital business, and adopt a more patient and independent investment strategy.

Strobe's portfolio already includes projects such as Morpho, Ethena, Ledger, TYB, Aptos, and Maple Finance. Klocanas emphasized that they are looking for founders who can solve real problems and focus on fundamentals, rather than social media influencers, and believes that "if you can't create hundreds of millions of dollars in value for hundreds of millions of users, trading billions of dollars is unsustainable."