According to BlockBeats, former CoinShares Chief Strategy Officer Meltem Demirors is establishing her own venture capital firm, Crucible Capital. This development was revealed in forms submitted to the U.S. Securities and Exchange Commission on August 8, as reported by Fortune. Demirors left CoinShares in January of this year.

Crucible Capital, based in Delaware, is currently raising funds for two separate funds, with target sizes of $30 million and $45 million, respectively. Demirors is listed as a managing member and general partner. While the documents indicate that these funds have not yet secured external capital, this does not necessarily imply a lack of informal funding commitments or that Demirors has not raised funds through other company mechanisms.