A joint venture focused on early-stage stage investment in crypto startups — led by former Binance strategy chief Gin Chao — closed its first fund at over $50 million.
“We are grateful for the confidence and trust that our partners have placed in us for this first fund, particularly given the breadth of industries our LP base represents and the challenging macroeconomic conditions during this period,” said Chao in a written statement.
“At the same time, this has created an ideal window to deploy capital into the exciting opportunities that the current market presents.”NoLimit is focused on seed stage deals and strategic rounds, with check sizes ranging from $250,000 to $3 million. Its current bets include Mysten Labs, Connext, Hogwarts Labs, Binance.US and IQ Protocol.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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