Future Perfect Ventures, an early stage venture capital fund based in NYC, has secured, for its second fund, about $25 million to invest in startups focused on blockchain.
The fund is aiming for the new $50 million goals and has high profile supporters who have contributed like Marc Andreessen, Chris Dixon, and Chris Sacca, according to Forbes.
Jalak Jobanputra founded the FPV in 2014 previously worked in investment banking before she started funding early-stage tech startups in the late 1990s. The idea of an investment fund came after having participated in her first bitcoin conference in 2013.
“As an immigrant, as a woman, as someone who had experience in tech, I felt we were going to be well positioned. I had spent a lot of time in emerging markets and Silicon Valley, so I was able to bridge cultures and look at the world from a macro perspective, ” she says.
From 2014, Jobanputra invested in stakes in blockchain-based payment platform BitPesa, crypto trading app Abra, $500,000 into Blockstream, which proposal is making bitcoin transactions faster and cheaper.
In her second fund, some of his investments are Invisible Labs, a custody solution for crypto assets, Everledger, a solution to track the origin of high-value assets, Unocoin, an Indian crypto trading platform, Harbor, a platform which aims to tokenize real estate assets.
FPV’s first fund has elevated in value by 250% in just four years. Even if the period from 2014 to 2017 was a difficult one in the crypto market, with Bitcoin price above its 2013 peak, nine of ten of the startups she has funded have gone on to raise more money.
Jobanpudra focuses a lot on diversity. More than 50% of her portfolio company’s founders were women, and 10% were underrepresented minorities. In the second fund, four of the nine founders she’s backing are women.