TechFlow reported on November 14 that early cryptocurrency investment fund Portal Ventures is about to complete its second fund raising, with a scale of US$75 million and oversubscription to US$90 million. The fund has received participation from Chris Dixon and Marc Andreessen of a16z, Henry Kravis of KKR, and several managing directors from Insight Partners.
Portal Ventures was founded by Evan Fisher, a former Goldman Sachs and Insight Partners employee, and focuses on providing first-round investments for cryptocurrency startups. Its first $40 million fund was raised in early 2022 and was mainly invested during the 2023 bear market. It has now been fully deployed and is expected to start distributing profits next year.