NEW YORK–(BUSINESS WIRE)–North Island Ventures, a crypto-focused investment firm, today announced the closing of NIV Fund II with commitments of $125 million. With this new fund, NIV will aim to make 30-40 seed investments in emerging crypto and Web3 companies and protocols, with initial investments ranging from $250,000 to $3 million.
NIV Fund II is North Island Ventures’ second new investment vehicle in the past year, bringing the company’s total assets under management to approximately $300 million. These funds will support investments in Web3 infrastructure and applications spanning multiple layers, verticals, and use cases, across DeFi, NFT, digital identity, blockchain cybersecurity, cross-chain interoperability, DeSci, and more.
Travis Scher, co-founder and managing partner at NIV, said:
“We launched NIV in 2020 based on our belief that cryptography is the next big enabling technology – that it offers a set of new capabilities that entrepreneurs can harness and combine to create applications and experiences that could not exist before. The industry has come a long way since then, but we believe the true potential of this technology has barely been realized, and we are excited to have this new capital to fund the innovation that will carry crypto across the chasm in the course of of the next few years.
James Hutchins, co-founder and managing partner at NIV, said:
“NIV Fund II allows us to continue to partner with extraordinary entrepreneurs aiming to build transcendent businesses. Supporting early career founders is our true passion – and our extensive network, honed research capabilities and deep to add real value, helping founders take their business from idea stage to launch, product-market fit, and maturity.We believe crypto has the potential to solve some of the biggest challenges of the world, and we are honored to support the bold people who realize this potential.
About North Island Ventures
Founded in 2020 by Travis Scher, James Hutchins and Glenn Hutchins, NIV has over $300 million in assets under management and stakes in over 30 companies and protocols around the world. NIV’s guiding principle is that cryptography is the next great enabling technology, which in the long term will forge an invisible and interoperable network of networks, facilitating the transparent and secure exchange of value across national and institutional borders. NIV’s announced investments include Axelar, BCB Group, Dapper Labs, Flow, ImmuneFi, Polymer Labs, and more.