DBA Closes $68M for Second Venture Fund, Backs Bitcoin Scaling and DeFi Infrastructure

New York-based DBA has closed $68 million for its second venture fund, more than doubling the $50 million it raised for its debut fund in 2023. The firm's co-founders and one or more of its funds hold a material position in the HYPE token.

DBA focuses on lead roles in early-stage deals but participates across all stages. Its portfolio includes infrastructure projects like DoubleZero, Monad, and stablecoin application Payy, as well as Alpen Labs, which DBA co-led with a $8.5 million round in January alongside Cyber Fund.

The firm's disclosed conflict of interest is notable: one or more of its investment funds hold a material position in the HYPE token, as do both co-founders personally. This disclosure is relevant given that DBA is advocating for a supply change on the Hyperliquid network that could affect token value.