The encryption venture capital firm dao5 has completed the fundraising of $222 million for its second-phase fund.

PANews reported on May 1 that the crypto venture capital firm dao5 has announced the completion of a $222 million second phase fundraising, primarily from family offices and high-net-worth individuals. The firm was founded in 2022 by former Polychain investment partner and corporate lawyer Tekin Salimi, and its first phase $125 million fund has been fully invested in projects such as Berachain and Bittensor, with the DPI (distributed profit index) currently reaching 1x. The new fund will focus on institutional applications such as stablecoins and asset tokenization, planning to invest in 15-20 early-stage projects. Salimi has participated in major crypto projects like Avalanche, and the first phase fund LP, angel investor George Lambeth, will be promoted to general partner.

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