August 28, 2024
Lemniscap, a venture capital firm focused on cryptocurrency, has raised a new $70 million fund to invest in early-stage startups. The fund is primarily backed by Accolade Partners, a U.S.-based fund of funds, along with other undisclosed high-net-worth individuals and founders of Lemniscap’s portfolio companies, according to Roderik van der Graaf, the firm’s founder and managing partner.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
Lemniscap | $70M | August 28, 2024 | Accolade Partners | VC |
This is Lemniscap’s third fund, with the first closing in late 2023 and the final closing in mid-2024. The fund was oversubscribed, leading Lemniscap to turn down additional interest due to its $70 million hard cap. Van der Graaf did not specify the extent of the oversubscription, noting that these were soft commitments.
Lemniscap’s previous two funds were also in the “8-figure range,” but van der Graaf did not disclose their exact sizes. He confirmed that the latest fund is the largest so far and chose not to comment on the firm’s total assets under management (AUM).
About Lemniscap
Lemniscap is a venture capital firm that invests in early-stage startups focused on cryptocurrency and blockchain technology. They aim to support projects that have the potential to create scalable and lasting business models. Their investments are based on the technological promise of the underlying protocols and products.
Website: https://lemniscap.com/
About Investor
Investor: Accolade Partners
Accolade Partners is an investment firm that focuses on venture capital and growth equity. They invest in early-stage companies, particularly in the technology and healthcare sectors. Founded in 2000 and based in Washington, DC, Accolade Partners specializes in creating a concentrated portfolio of hard-to-access funds, including those focused on blockchain technology.
Location: Washington, DC
Website: https://www.accoladepartners.com/
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