Crypto venture capital firm dao5 completes fundraising for US$222 million

PANews reported on May 1 that according to Fortune, crypto venture capital firm dao5 announced that it had completed the second phase of fundraising of US$222 million, with the main investors being family offices and high net worth individuals. The institution was founded in 2022 by Tekin Salimi, former Polychain investment partner and corporate lawyer. Its first US$125 million fund has been invested in Berachain, Bittensor and other projects. Currently, DPI (paid-in return on capital) has reached 1 times. The new fund will focus on the application direction of institutions such as stablecoins and asset tokenization, and plans to invest in 15-20 early-stage projects. Salimi has participated in investment in major crypto projects such as Avalanche, and its first fund LP and angel investor George Lambeth will be promoted to general partner.