Dao5 Raises $222M Fund to Accelerate Blockchain Adoption for Institutions and Governments
Crypto investment firm dao5 has successfully raised a $222 million fund aimed at supporting blockchain projects focused on institutional and government adoption. This brings the firm’s total assets under management to $550 million.
Founded in 2022 by Tekin Salimi, a former partner at Polychain Capital, dao5 has made early investments in notable projects like Story Protocol, Bittensor, Berachain, and EigenLayer. The firm’s inaugural fund, launched during the final stages of the last bull market three years ago, has been fully deployed and already returned “the vast majority of commitments” to its limited partners, as stated in a press release shared with CoinDesk.
“Crypto is entering its adolescence phase,” said Salimi. “The industry’s reliance on pure speculation for growth is becoming less effective, and future success will hinge on the real integration of blockchain technology into global financial, governmental, and private sector systems.”
The new fund will focus on on-chain public infrastructure, novel stablecoin systems, and “state-sovereign artificial intelligence.”
As part of its expansion plans, dao5 also announced that it will transition the fund into a decentralized autonomous organization (DAO) later this year. To bolster this effort, the firm has added George Lambeth, a seasoned investor who has supported projects like Avalanche and Celestia, as a General Partner.
