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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/parafi-capital-raises-120-million-from-investors/" data-wpel-link="internal">Parafi Capital Raises $120 Million from Investors</a> 
Crypto asset management firm Parafi Capital successfully raised $120 million from <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> including Theta Capital Management and Accolade Partners, indicating strong growth in crypto funding. The capital increase follows the $70 million raised by crypto-focused venture capital firm Lemniscap to invest in ventures. 
<h2 class="p1" style="text-align: justify" id="investments-in-the-crypto-sector-are-increasing">Investments in the Crypto Sector Are Increasing</h2> 
Crypto firms are raising capital in 2024 as cryptocurrency prices recover and overall market sentiment improves. According to a Bloomberg report, ParaFi’s fundraising will be partly used to purchase general partner (GP) shares in other crypto funds. The company plans to build a portfolio of up to 50 shares over the next three to five years. 
Founded in 2018, Parafi Capital has invested in various crypto asset companies. In early August, crypto asset infrastructure provider Parfin announced the completion of a $10 million Series A funding round led by ParaFi Capital. ParaFi’s founder Ben Forman explained his strategy to Bloomberg: 
<blockquote> 
 “We have closely watched the evolution of the crypto fund landscape over the years. We believe there will be many more crypto funds as institutional capital enters this space. Specialization and focus are important regardless of geography, theme, or type of investment.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
Many crypto companies and venture capitalists (VCs) are already raising capital or in the process of securing new funds. VC firm Lemniscap’s $70 million fund will be spent on a range of blockchain-based businesses, including zero-knowledge infrastructure, consumer applications, emerging <a href="https://en.coin-turk.com/what-will-happen-to-bitcoin-and-ethereum-this-weekend/" data-wpel-link="internal">Bitcoin</a> ecosystems, security, and decentralized physical infrastructure networks. 
The new fund is also supported by Accolade Partners, a fund of funds targeting early-stage ventures in the blockchain industry. Wireless internet service provider Andrena secured $18 million to launch Dawn, a decentralized autonomous wireless network. The investment was led by Dragonfly and included participation from CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures, ParaFi, and other investors. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384179" src="https://coin-turk.com/wp-content/uploads/2024/08/dawn.webp" alt="" width="500" height="455"> 
Open-source block explorer Blockscout closed a $3 million seed round led by 1kx. The funding will improve the venture’s product suite and user experience and expand its explorer-as-a-service offering. Game developer Cartridge recently raised $7.5 million in a Series A funding round led by Bitkraft Ventures to support the newly launched Dojo 1.0. Dojo 1.0 provides an open-source framework and toolkit for developers working on blockchain-based <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener" data-wpel-link="exclude">games</a>. 
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Parafi Capital Raises $120 Million from Investors

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