Venture capital firm Pillar VC raised $192 million for two funds focused on crypto as well as fintech, artificial intelligence/machine learning and enterprise Software-as-a-Service (SaaS).

The Boston-based firm raised $169 million for its Pillar III fund and $23 million for Pillar Select, according to an announcement Tuesday.
Investments will be focused on northeast U.S., it said.
The funds will make pre-seed investments of $50,000-$500,000 and seed-round investments of $2 million-$6 million in startups focused technologies including crypto, fintech, and AI/ML.

USDC-backer Circle is among Pillar’s beneficiaries from previous funds. The firm joined a mammoth $440 million fundraising round in May alongside Fidelity and CoinDesk parent Digital Currency Group.
Circle intends to go public later this year via a SPAC deal worth $4.5 billion.

UPDATE (July 20, 16:28 UTC): Corrects dollar amount of how much was raised for Pillar III and Pillar Select funds.

Related Stories

Guggenheim Registers Fund That May Seek Exposure to Crypto
Cowen Investment Arm Raises Over $46M for New Digital Assets Fund
VC Firm White Star Capital Raises $50M for Crypto and Blockchain Fund
5 New Funds Bring $100M to Boost Growth of the Solana Ecosystem


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.