Crypto investment firm dao5 has successfully raised a substantial $222 million fund aimed at investing in blockchain projects that focus on institutional and government adoption. This significant fundraising milestone elevates the firm’s total assets under management to an impressive $550 million, reflecting its growing influence in the cryptocurrency sector.
Founded in 2022 by Tekin Salimi, a seasoned professional and former partner at Polychain Capital, dao5 has made strategic investments in a variety of promising projects such as Story Protocol, Bittensor, Berachain, and EigenLayer. These early bets showcase the firm’s commitment to identifying and supporting innovative technologies poised to shape the future of blockchain.
The firm’s inaugural fund, which was launched amid the final days of the previous market bull run three years ago, has been fully deployed and has returned “the vast majority of commitments to its limited partners,” according to a press release shared with CoinDesk. This successful performance underscores dao5’s effective investment strategy and its ability to adapt to changing market conditions.
“Crypto is entering its adolescence phase. The industry’s dependency on pure speculation as the driver of growth is no longer as effective as it once was,” Salimi remarked, signaling a shift in how the industry operates. He emphasized that the future success of cryptocurrency will hinge on the “real integration of blockchain technology into global financial, governmental, and private sector systems.”
The newly raised fund will target investments in public on-chain infrastructure, novel stablecoin systems, and initiatives involving “state-sovereign artificial intelligence,” all of which aim to foster greater reliability and stability within the crypto ecosystem.
In conjunction with the fundraising efforts, dao5 plans to evolve into a decentralized autonomous organization (DAO) later this year, aligning with the growing trend of decentralized investment models. Additionally, the firm has expanded its leadership team by welcoming George Lambeth as General Partner, notable for his previous support of groundbreaking projects like Avalanche and Celestia.
With a clear vision and a dedicated approach, dao5 is positioning itself at the forefront of blockchain investment, paving the way for a more integrated and sustainable future in the industry.
