COINOTAG News, May 1st — In a significant development in the cryptocurrency investment landscape, dao5, a venture capital firm specializing in blockchain technology, has successfully secured $222 million for its second fund, as reported by Fortune. The firm, established in 2022 by Tekin Salimi, a former executive at the prominent crypto investment firm Polychain, has shown a robust commitment to funding transformative crypto projects.
Having already fully utilized its initial $125 million fund, dao5 has strategically invested in promising startups, such as Berachain, a Layer 1 blockchain, and Bittensor, which is focused on decentralized artificial intelligence. This latest fundraising round underscores the growing confidence among institutional investors in the cryptocurrency ecosystem and highlights dao5’s pivotal role in shaping its future.