DBA Closes Second Venture Fund With $68 Million, Holds Material Position in HYPE Token

DBA, a New York-based cryptocurrency investment firm, has closed $68 million for its second venture fund. This is more than double the $50 million it raised for its debut fund in 2023.

The co-founders of DBA, Michael Jordan and Jon Charbonneau, also disclosed that they and one or more of their 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 such as DoubleZero and Monad, stablecoin application Payy, capital formation platform MetaDAO, and Alpen Labs, which DBA co-led with a $8.5 million round in January alongside Cyber Fund.

The firm's notable conflict of interest is that it holds a material position in the HYPE token while advocating for a supply change on the Hyperliquid network that could affect token value.