NEW YORK–(BUSINESS WIRE)–North Island Ventures, a crypto-focused investment firm, today announced the closing of NIV Fund II with $125 million in commitments. With this new fund, NIV will aim to make 30 to 40 early-stage investments in emerging crypto and Web3 companies and protocols, with initial investments ranging from $250,000 to $3 million.
NIV Fund II is North Island Ventures’ second new investment vehicle within the past year, bringing the firm’s total assets under management to approximately $300 million. These funds will support investments in Web3 infrastructure and applications spanning multiple layers, verticals, and use cases, across DeFi, NFTs, digital identity, blockchain cybersecurity, cross-chain interoperability, DeSci, and more.
Travis Scher, Co-Founder and Managing Partner at NIV, said:
“We launched NIV in 2020 based on our belief that crypto is the next great enabling technology – that it offers a set of new capabilities that entrepreneurs can leverage and combine to create applications and experiences that could not previously exist. The industry has advanced tremendously since then, but we believe the real potential of this technology has barely been realized, and we’re thrilled to have this new capital to finance the innovation that will carry crypto across the chasm over the coming years.”
James Hutchins, Co-Founder and Managing Partner at NIV, said:
“NIV Fund II empowers us to continue partnering with extraordinary entrepreneurs aiming to build transcendent businesses. Supporting early-stage founders in their journeys is our true passion – and our broad network, honed research capabilities, and depth of experience enables us to add real value, helping founders take their businesses from the idea stage to launch, product-market fit, and maturity. We believe that crypto has the potential to solve some of the world’s greatest challenges, and we are honored to support the bold individuals bringing this potential to fruition.”
About North Island Ventures
Founded in 2020 by Travis Scher, James Hutchins, and Glenn Hutchins, NIV has $300 million+ in assets under management and stakes in 30+ companies and protocols around the world. NIV’s guiding principle is that crypto is the next great enabling technology, which, over the long term, will forge an invisible, interoperable network-of-networks, facilitating the seamless and secure exchange of value across national and institutional borders. NIV’s announced investments include Axelar, BCB Group, Dapper Labs, Flow, ImmuneFi, Polymer Labs, and more.