Foundation Capital Raises $600M for 11th Fund, Betting on Early-Stage Crypto and Fintech

Foundation Capital, a Silicon Valley venture firm, has raised $600 million for its 11th fund, marking a significant milestone in its 30-year history. The firm, known for its early investment in Solana Labs, will continue its focus on supporting startups at the earliest stages, even before they generate revenue.

The new fund, which is 20% larger than its predecessor, will maintain Foundation Capital's tradition of investing in sectors such as crypto, fintech, and artificial intelligence. The firm aims to identify "zero-billion-dollar markets" – opportunities that are not yet visible in industry forecasts but have the potential for significant growth.

Foundation Capital's crypto portfolio is diverse, including early investments in Solana Labs, Binance U.S., OpenSea, and other promising blockchain projects. The firm's commitment to the crypto space is evident, having invested in blockchain since 2014, even during the "frigid crypto winters."

With Fund 11, Foundation Capital seeks to continue investing in startups that are still in their formative stages, maintaining its focus on emerging technologies. The firm encourages seed-stage founders working in crypto, fintech, or enterprise AI to reach out and discuss potential opportunities.

The successful closure of Foundation Capital's 11th fund comes amidst a wave of investment activity in the venture capital industry. The firm's ability to raise a larger fund than its previous one reflects the confidence that investors have in its strategy and track record. As an early backer of high-growth blockchain platforms like Solana, Foundation Capital has demonstrated its ability to identify and support promising projects in the rapidly evolving blockchain space.

The firm's latest fundraise also underscores the growing interest in blockchain technology and its potential applications. As blockchain continues to gain traction, investors are increasingly looking to support innovative projects in the space. Foundation Capital's new fund will enable the firm to continue playing a significant role in the development of this exciting and rapidly evolving field.