PANews news on July 18, according to Bloomberg News, New York-based venture capital firm CoinFund announced on Tuesday that the new fund has raised $158 million to support early-stage encryption startups. The fund's original funding target was $125 million, but the interest it received exceeded expectations. CoinFund's latest investment vehicle is its fourth seed fund, which has invested in Giza, a startup aiming to bring artificial intelligence to smart contracts, and Superstate. With the new capital infusion, CoinFund will focus in part on startups at the intersection of crypto and artificial intelligence, and will also continue to make token investments. About 90 percent of the firm's transactions involve tokens, said Alex Felix, CoinFund's chief investment officer. Felix said the firm still believes the industry can converge with traditional finance in a regulated manner.

According to news on July 18, the new fund of venture capital firm CoinFund has raised $158 million to support early encryption startups. CoinFund’s latest investment vehicle is its fourth seed fund, which has invested in Giza (a startup aiming to bring artificial intelligence to smart contracts) and Superstate (planning to combine DeFi and mutual funds). With the new capital infusion, CoinFund will focus in part on startups at the intersection of crypto and artificial intelligence, and will also continue to make token investments. Alex Felix, chief investment officer at CoinFund, said the firm, which deals about 90 percent of its transactions in tokens, remains confident the industry can integrate with traditional finance in a regulated manner.