Cryptocurrency venture Reforge plans to raise $80 million, having currently raised $25 million
ChainCatcher news, according to Bloomberg, Alexander Lin and Carl Hua have founded a new venture capital fund called Reforge, aiming to raise $80 million, of which $25 million has been secured so far. Through Reforge, Lin hopes to find technologies that make it easier for founders and developers to adopt blockchain. He stated, "We believe that the current landscape of layer one blockchains does not meet the needs of the best consumer founders."In addition, Reforge co-founder Alexander Lin believes that the rapid launch of tokens driven by capital allocators seeking returns is a major reason for this. He also criticized the overheated investment phenomenon in cross-border startups between crypto and artificial intelligence, questioning the feasibility of decentralized computing networks meeting the power demands of AI tools.It is reported that Lin and Carl Hua both held senior positions at Shima Capital until leaving in January this year to establish Reforge.Previous news reported that the founder of crypto venture capital Shima Capital is suspected of misappropriating assets, and several company executives have resigned. Its founder Yida Gao created secret offshore entities and transferred assets belonging to his venture capital firm to companies registered in his own name, without the knowledge of other investors in those companies.
