Sequoia Capital, a venture capital firm based in silicon valley is beginning a brand new crypto fund to assist digital assets by injecting hundreds of millions of dollars in capital.
The venture capital firm says the fund, which will be primarily targeted towards liquid tokens, coins which offer a supply change when they are purchased or sold. The fund will be valued at $500 – $600 million dollars.
The venture capital firm says that they have been investing in digital assets over the past several years, however they have not incorporated some of the alternative benefits from the digital assets such as staking and decentralized exchanges for trading. With this new press release, Sequoia Capital says that will now be adjusted.
“While we’ve invested in both equity and tokens over the last five years, many have asked that we take a more active role in managing our tokens, including staking them, providing liquidity, participating in governance and trading through their platforms…”
Sequoia Capital was the top venture capital fund in 2019. It’s past early investments include Apple, Google, Cisco, Whatsapp, Zoom, Instagram, Reddit and Paypal.