CMT Digital looks to raise $150 million for fourth crypto fund: report

The Block2024/06/12 10:43

By:The Block

Quick Take CMT Digital hopes to raise $150 million in capital for its fourth fund. The fund will reportedly focus on longer-term crypto investments. Head of Capital Formation Gerald Brant is overseeing the raise.

Venture capital firm CMT Digital hopes to raise $150 million in capital for its fourth fund, which will reportedly focus on longer-term crypto investments.

Fundraising began one month ago, according to Fortune. If successful, the fund would be the firm's largest after its first three raised $25.5 million, $130 million and $100 million, respectively.

"Right now, the next wave of innovation comes in the form of decentralized physical infrastructure," investment partner Sam Hallene told Fortune, citing application-specific hardware and Solana-based wireless network Helium. Hallene also indicated that the firm is interested in stablecoins for their use cases in global remittances and as yield-bearing tokens.

Head of Capital Formation Gerald Brant — who was previously in the same role at BlockTower Capital and Pantera Capital — is overseeing the raise. "I played for the Yankees when I was at Pantera, I've played for the Red Sox, so to speak, at BlockTower, and now I'm with the Chicago Cubs, where the games are more fun," Brant told Fortune.

CMT Digital is a subsidiary of CMT Group and has invested in more than 150 crypto-related companies — including Circle, Coinbase and Consensys — since 2018.

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