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Early Solana backer Foundation Capital raises $600 million for 11th fund

Early Solana backer Foundation Capital raises $600 million for 11th fund

The BlockThe Block2025/03/04 16:00
By:By Yogita Khatri

Quick Take Foundation Capital has raised $600 million for Fund 11 to continue backing early-stage startups. The early Solana backer’s new fund will target crypto, fintech and enterprise AI investments.

Early Solana backer Foundation Capital raises $600 million for 11th fund image 0

Foundation Capital, a Silicon Valley venture firm and an early investor in Solana Labs, has raised $600 million for its 11th fund, continuing its focus on startups at the earliest stages.

The 30-year-old firm, which invests in crypto, fintech and artificial intelligence, among other sectors, said the new fund will continue its tradition of supporting founders "at day zero" before a product is built or revenue is generated.

Foundation Capital said 80% of its investments happen before a company has generated a single dollar of revenue. "We look for what we call 'zero-billion-dollar markets' — opportunities that don't appear in industry forecasts because they're only visible to those who see beyond what exists today," the firm said.

Foundation Capital's crypto portfolio

Foundation Capital was among the early investors in Solana Labs , participating in its $20 million Series A round in 2019. Its crypto portfolio also includes Binance U.S. , OpenSea, MoonPay, Algorand, Stacks, BCB Group , Helius , Jito and Kamino, according to its website.

"We've been investing in blockchain since 2014, unfazed by frigid crypto winters," the firm said. "In each case, what drives us is finding founders who share our conviction — who believe that something fundamental can work differently, better."

With Fund 11, Foundation Capital aims to continue investing in startups that are still in their formative stages, maintaining its focus on emerging technologies.

"If you're a seed stage founder working in crypto, fintech or enterprise AI, come talk to us," said Rodolfo Gonzalez, general partner at Foundation Capital, on X.

Foundation Capital's 11th fund is 20% larger than its previous $500 million fund, which closed about three years ago.

The Funding newsletter: Stay updated on the latest crypto funding news and trends with my free bimonthly newsletter, The Funding. Sign up  here !


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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