The investment company in Crypto DAO5 has raised a fund of $ 222 million to invest in blockchain projects targeting institutional and governmental adoption. The fund is the total of the company’s assets to $ 550 million.
Founded in 2022 by Tekin Salimi, a former partner of Polychain Capital, Dao5 made first bets on projects, including the history protocol, the Bittenseur, the Berachain and the Eigenlayer.
The first fund of the company, launched in the last days of the last Haussier market three years ago, was fully deployed and has already returned “the vast majority of commitments to its limited partners”, according to a press release shared with Coindesk.
“Crypto is entering its adolescence phase. Industry dependence on pure speculation as a growth engine is no longer as effective as in the past,” said Salimi.
Future success will be the product of “real integration of blockchain technology in global financial, government and private systems,” he said.
The objective of the new fund is the public infrastructure on the chain, the new stablecoin systems and “the artificial intelligence of the state”.
In tandem with fundraising, the company provides that its DAO5 fund is transformed into a decentralized autonomous organization later this year. To support its expansion, the firm added George Lampeth, who previously supported projects like Avalanche and Celestia, as a general partner.
