Standard Crypto Raises $170 Million

The Standard Crypto Flagship Fund LP has raised $169,551,000 according to a filing with the Securities and Exchanges Commission.

Adam Goldberg, Managing Member and General Partner of Standard Crypto, said the minimum investment was $100,000 and 61 investors participated.

Little more is known. We’ve asked for clarification and will update once a response is received.

Goldberg himself is also partner at Lightspeed Venture, described as “a global venture capital firm focusing on multi-stage investments in the enterprise technology, consumer, and health sectors. Over the past two decades, the firm has backed more than 400 companies, including Snapchat, Affirm, MuleSoft, and AppDynamics.”

It’s not clear whether this crypto fund is an offshoot of sorts and more importantly it’s not clear whether it plans to invest in cryptos directly, in startups, or both.

Regardless however it indicates the crypto space continues to grow with new money entering the scene as sophisticated investors start adopting bitcoin and other cryptos in their portfolios.