Jump Capital Raises $350M Venture Fund With ‘Increased Concentration’ on Crypto

Jump Capital, a Chicago-based venture capital firm, has closed a $350 million fund that will have a greater focus on crypto.

The firm’s seventh venture fund is 75% larger than the preceding $200 million funds of October 2019.

One of the beneficiaries of Jump Capital’s earlier investments in crypto was Mexico-based exchange Bitso, which worked with El Salvador’s government in developing the Chivo wallet for its citizens following the country’s adoption of bitcoin as legal tender. Jump Capital joined a $62 million funding round into Bitso led by Ripple in 2019.

As with previous funds, Jump Capital is eyeing early-stage investments in sectors such as fintech, IT infrastructure, and B2B software as a service. However, the fund will have “an increased concentration on the evolving crypto ecosystem.”

With the latest fundraise, the firm is looking to invest in crypto sectors like DeFi, Web 3.0, blockchain, and financial applications.

Jump Capital’s sister firm Jump Trading today said it launched a new division, Jump Crypto, dedicated to building software infrastructure for blockchain ecosystems as well as crypto trading and market-making activities.




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