Crypto VC firm Multicoin Capital reveales it co-led $225m funding in Wormhole

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Funding agency Multicoin Capital revealed in a latest weblog put up that it had co-led a $225 million funding spherical in Wormhole final 12 months.

Crypto enterprise capital agency Multicoin Capital was one of many main buyers that backed Wormhole’s $225 million funding final 12 months, the agency revealed in a blog post on Apr. 3. Though Multicoin Capital co-founder Kyle Samani didn’t disclose the agency’s stake within the cross-chain protocol, he famous that the deal “was a dangerous resolution, however finally turned out to be a prescient resolution.”

It stays unclear whether or not Multicoin Capital retains its place in Wormhole or has divested its stake within the challenge’s W tokens following their listing on crypto exchanges.

“Now we have had the pleasure of working with the Wormhole group for a while now.”

Kyle Samani

Multicoin Capital’s participation within the $225 million funding was beforehand recognized, although it wasn’t initially clear that the agency co-led the funding spherical with Leap Crypto. As crypto.information reported, the challenge achieved the fundraising milestone at a $2.5 billion valuation all through 2022, concluding in January 2023.

Aside from Multicoin Capital and Leap Crypto, different buyers additionally joined the funding, together with Brevan Howard, Coinbase Ventures, ParaFi, Dialectic, Borderless Capital, and Arrington Capital amongst others. As of press time, Wormhole’s W token is buying and selling at $1.16, dropping over 16% over the previous 24 hours, in keeping with knowledge from CoinMarketCap.

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