According to an announcement made by Gumi Cryptos Capital, it revealed that it is going to be initiating an outstanding $110Million Fund that is intended to provide power to a variety of blockchain-based Startups.
Gumi Cryptos Capital (gCC) recently announced the launch of its new and second fund that will be used to power up various blockchain-based startups. This second fund, named as gCC Fund II has about $110Million in total value, highlighting that it is trying to follow the footsteps of its previous successful fund named, gCC Fund I.
With its second major fund, gCC intends to power up many startups that are working to come up with blockchain projects such as, developing infrastructure, developer tools, blockchain gaming, metaverses, decentralized autonomous organizations (DAOs) and much more.
Distribution of Funds
Regarding the information shared, gCC fund II will be distributed among fifty startups from around the world, providing each individual startup with funds ranging from $500,000 to around $5Million in multiple investment phases, depending upon the quality of the startup. gCC stated that the fund will be putting money into respective equity and tokens, as gCC wants to seek out impressive developers and projects at every level, throughout the initial stages of a firm’s overall operating lifecycle.
Emphasis on Experimentation
Leading the charge in the gCC fund II are gCC’s three main allies, Hironao Kunimitsu, Rui Zhang and Miko Matsumura, who were also a part of the previous gCC Fund I. Each of the three allies have been founders and employees of multiple firms by taking advantage of mergers and acquisitions or IPOs.
Miko Matsumura stated that the current “infrastructure and institutions” are very much flawed and are weak, so now that the path is unclear, there is tons of potential and hunger for “experimentation” to be worked with. Miko also stated that tokens come in the category of monetary-based experimentation, meanwhile DAOs and the upcoming Web 3 fall in the category of “governance experimentation”.
Looking at the previous gCC fund I, gCC stated that it managed to grow from around $21Million value to an outstanding triple digit million value of $516Million, generating a massive successful return of about 24 times than what was invested at the start.