Ego Death Capital, a venture capital fund focused on investing in Bitcoin technology startups, has announced the successful first close of its $100 million second fund.
The fund has already secured $43.35 million in commitments from investors, underscoring strong interest in backing the next wave of Bitcoin companies. Ego Death has previously backed leading startups like Relai, Breez, Fedi, LN Markets, and more.
Founded by Jeff Booth, Andi Pitt, and Nico Lechuga, Ego Death Capital targets Series A investments in rapidly scaling Bitcoin startups with this fund. Preston Pysh and Lyn Alden have also recently joined them as a General Partner in the second fund.
The successful first close demonstrates the surging appetite among investors to allocate capital to the expanding Bitcoin technology sector.
According to Ego Death founding partner Nico Lechuga, “While there are a number of Bitcoin-only VC funds investing at the Seed stage, there was no Series A-focused fund to support the rapidly developing ecosystem.”
Jeff Booth commented, “There are almost no words to describe the feeling of having a front seat in the creation of value on a protocol that brings truth, hope, and abundance to 8 billion people.”
The ability of prominent venture funds to raise sizable funds focused purely on Bitcoin startups signals the maturity and growth of the broader ecosystem. More access to late-stage capital will accelerate the development and usage of Bitcoin technology.