- Will make 30 to 40 early-stage investments in crypto and web3 companies
- Investments to range from $250k to $3m
- Firm was founded in 2020 by Travis Scher, James Hutchins and Glenn Hutchins
North Island Ventures, a crypto-focused investment firm, has closed its second fund at $125 million. NIV Fund II will make 30 to 40 early-stage investments in crypto and web3 companies and protocols, with initial investments ranging from $250,000 to $3 million.
The New York firm did not disclose the names of the limited partners in the new fund.
NIV was founded in 2020 by Travis Scher, James Hutchins and Glenn Hutchins. It has more than $300 million in assets under management and holds stakes in 30 plus companies and protocols around the world.
“We launched NIV in 2020 based on our belief that crypto is the next great enabling technology — that it offers a set of new capabilities that entrepreneurs can leverage and combine to create applications and experiences that could not previously exist,” Scher said in a statement. “The industry has advanced tremendously since then, but we believe the real potential of this technology has barely been realized, and we’re thrilled to have this new capital to finance the innovation that will carry crypto across the chasm over the coming years.”