North Island Ventures Launches $125M Second Fund to Invest in NFTs, DeFi and More

North Island Ventures has launched its $125 million second fund to invest in early-stage web3 startups focused on NFTs, DeFi and other verticals.
Image source: Business Wire

Quick take:

  • North Island Ventures (NIV) has launched its second fund.
  • The crypto-focused venture capital firm revealed on Tuesday it has received $125 million in commitments.
  • NIV plans to invest $250,000 to $3 million in 40-50 early-stage projects focused on NFTs, DeFi and cross-chain interoperability among other Web3 verticals.

North Island Ventures (NIV) has announced the launch of its second fund after securing investment commitments to the tune of $125 million. 

The crypto-focused venture capital firm plans to invest the funds in early-stage web3 startups focused on DeFi, NFTs, digital identity, blockchain cybersecurity, cross-chain interoperability, DeSci (decentralised science), and more.

According to the announcement, NIV is looking to invest $250,000 to $3 million across 40-50 early-stage projects. The company now has over $300 million in assets under management following the announcement of the new fund. NIV has invested in Web3 infrastructure and applications spanning multiple layers, verticals and use-cases.

The venture capital firm was founded in 2020 by Travis Scher, former vice president at Digital Currency Group, James Hutchins formerly of Coatue, and Glenn Hutchins whole served on the boards of TD Ameritrade, Seagate Technology and Gartner, among others.

NIV’s investment in crypto is guided by the view that it is the next great enabling technology that will in the future forge an invisible, interoperable network of networks. The company believes this network will help to facilitate the seamless cross-border and cross-national exchange of culture and values.

Commenting on the new fund launch, Travis Scher, Co-Founder and Managing Partner at NIV, said: “[Web3] offers a set of new capabilities that entrepreneurs can leverage and combine to create applications and experiences that could not previously exist.”

Despite the industry’s advancement over the last few years, the co-founders believe that “the real potential of this technology has barely been realized, and we’re thrilled to have this new capital to finance the innovation that will carry crypto across the chasm over the coming years,” Scher added.

On the other hand, James Hutchins, also co-founder and managing partner at NIV, commented: “NIV Fund II empowers us to continue partnering with extraordinary entrepreneurs aiming to build transcendent businesses.”

Hutchins expressed the company’s commitment and passion for supporting early-stage founders in their journeys, adding that “[NIV’s] broad network, honed research capabilities, and depth of experience enables us to add real value, helping founders take their businesses from the idea stage to launch, product-market fit, and maturity.”

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