The DAO5 cryptographic investment firm raised a $ 222 million fund to invest in blockchain projects aimed at institutional and governmental adoption. The Fund carries the total assets of the company under administration to $ 550 million.
Founded in 2022 by Tekin Salimi, former partner of Polchain Capital, DAO5 made early bets on projects that include the history protocol, bittensor, Berachain and Eigenlayer.
The first fund of the firm, launched during the last days of the last upward market three years ago, was completely implemented and has already returned “the vast majority of commitments with its limited partners,” according to a press release shared with Coindesk.
“Crypto is entering its adolescence phase. The dependence of the pure speculation industry since the promoter of growth is no longer as effective as before,” said Salimi.
Future success will be a product of “the real integration of blockchain technology in global financial, government and private sector systems,” he said.
The focus of the new fund is the public infrastructure in the chain, the new Stablecoin systems and the “artificial intelligence on the State”.
In conjunction with the collection of funds, the company plans that its DAO5 fund becomes a decentralized autonomous organization at the end of this year. To support its expansion, the firm added George Lambeth, who previously supported projects such as Avalanche and Celestia, as a general partner.
