Breed VC Secures $15M for Second Crypto Fund Amid Selective Venture Landscape

Breed VC has secured $15 million for its second early-stage crypto fund, underscoring ongoing interest in pre-seed and seed investments despite a selective venture landscape. The firm's sophomore vehicle comes after its first fund closed at around $20 million in early 2023.

The new fund drew commitments from a range of crypto-native backers, including FalconX, Nic Carter, Rob Hadick, and Jake Brukhman. These investors reflect Breed VC's focus on crypto infrastructure, decentralized finance, and real-world assets, areas that align with the firm's founder Jed Breed's background in digital assets.

Breed's experience as head of digital assets at Circle and his time at Accomplice VC have given him a unique edge in identifying opportunities in these spaces. The firm has made between 30 and 52 tracked deals across both funds, with recent investments including a stake in M1X Global, an infrastructure-focused project.