- A former Coinbase CTO has launched a new fund.
- The fund targets “every promising company” across a range of industries.
- Influential tech leaders and billionaires back the fund.
The former Chief Technology Officer (CTO) of Coinbase, Balaji S. Srinivasan, has launched a new fund backed by influential tech leaders and Silicon Valley billionaires.
As a seasoned angel investor, Balaji has backed many startups, including Dapper Labs, OpenSea, Stability AI, Instadapp, Zora Labs, and Alchemy. Balaji’s track record extends to being an early investor in Bitcoin, Ethereum, Solana, Avalanche, NEAR, and Polygon.
Balaji Targets Startups with a New Fund
Launched on December 14, the Balaji Fund aims to support the development of new libertarian societies dubbed “Network States,” as well as seed investing in “every promising company,” according to a Twitter (X) post shared by Balaji.
In a separate note to potential investors, Balaji highlighted the types of industries the newly launched fund will target.
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“This fund will scale up Balaji's seed investing across a wide variety of areas including, but not limited to, crypto/web3, deep learning, augmented reality and virtual reality, genomics, quantified self, autonomous robotics, network states, and frontier technologies more generally,” the note read.
According to Balaji, various tech heavyweights are backing the fund, including Coinbase CEO Brian Armstrong, AngelList co-founder Naval Ravikant, and venture capitalist Fred Wilson, also a Coinbase board member. Wilson sold his shares at Coinbase for $1.8 billion when the exchange went public in 2021.
The fund’s structure and terms include a commitment of $10K per quarter minimum for 10 quarters, a 2.5% management fee, and a 25% carry, graduated to 30% after 3X returns.
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