Jump Capital Raises $350M Venture Fund With ‘Increased Concentration’ on Crypto

Jump Capital, a Chicago-based venture capital firm, has closed a $350 million fund that will have an greater focus on crypto.

The firm’s seventh venture fund is 75% larger than the preceding $200 million fund of October 2019.One of the beneficiaries of Jump Capital’s earlier investments in crypto was Mexico-based exchange Bitso, which worked with El Salvador’s government in developing the Chivo wallet for the country’s citizens following El Salvador’s adoption of bitcoin as legal tender. Jump Capital joined a $62 million funding round into Bitso led by technology company Ripple in 2019.As with previous funds, Jump Capital is eyeing early-stage investments in sectors such as fintech, IT infrastructure and B2B software as a service. However, the fund will have “an increased concentration on the evolving crypto ecosystem,” it announced Tuesday.The fund will focus on base infrastructure layers, decentralized finance (DeFi), gaming and Web 3.0.Jump Capital’s sister firm, Jump Trading, today said it launched a new division, Jump Crypto, dedicated to building software infrastructure for blockchain systems as well as to crypto trading and market-making activities.

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