Dao5 Raises $222 Million Fund for Institutional Blockchain Projects
Crypto investment firm dao5 has raised a $222 million fund dedicated to blockchain projects aimed at institutional and government adoption, increasing its total assets under management to $550 million.
- Founded in 2022 by Tekin Salimi, a former partner at Polychain Capital.
- Previous investments include Story Protocol, Bittensor, Berachain, and EigenLayer.
- The first fund was fully deployed and returned most commitments to limited partners.
- Salimi stated that the crypto industry is moving away from speculation towards real integration of blockchain technology.
- The new fund focuses on on-chain public infrastructure, novel stablecoin systems, and state-sovereign artificial intelligence.
- dao5 plans to convert into a decentralized autonomous organization later this year.
- George Lambeth joins as General Partner, previously involved with Avalanche and Celestia.