Crypto VC Firm Led by Ex-Coinbase Execs Raises $500M Fund, Seeks Discounted Stakes in Struggling Crypto Companies
• Crypto VC firm C1, led by former Coinbase executives, has $500M fund and is looking to acquire stakes in crypto companies at 50-80% discount to last valuation
• C1 has reached out to gaming/metaverse VC Animoca Brands and blockchain analytics firm Chainalysis about buying out investors
• C1 targeting companies with $300M+ valuation, wants to write $20M-$50M checks due to "attractive valuations" in crypto secondary market
• Australia has taken cautious stance on crypto since FTX collapse, but sentiment may be changing with market rebound
• C1 denies meeting directly with Animoca or Chainalysis, says article was not authorized