Draper Goren Holm Banks $25 Million for First Crypto Venture Fund

Draper Goren Holm, a Tim Draper-backed crypto , has raised $25 million for its first venture capital fund for backing the early-stage startups developing blockchain and crypto-related products and services.
As reported by Coindesk on Tuesday, the fund will focus on investing in seed, Series A, and later rounds with a cheque anywhere between $250,000 to $500,000. For pre-seed rounds, the venture capital company is aiming to back startups with $10,000 to $50,000, taking a 4 to 10 percent stake against their investment.
Positioned as a Major Crypto Venture Capital
Based in Los Angeles, the venture capital firm was founded by Alon Goren and Josef Holm in 2018. Last year, they were joined by billionaire Tim Draper as a limited partner.
Over the last couple of years, the venture capital firm has taken stakes in some of the popular blockchain startups, including CasperLabs, Vertalo, and Tezos Stablecoin Technologies.
Last week, Finance Magnates also reported on Draper Goren Holm’s investment in Israeli digital securities exchange . 
Meanwhile, Draper himself is known for his belief in Bitcoin and investments in many crypto startups. He made headlines after buying 30,000 government-seized Bitcoins for $19 million from the US Marshal Services and later investing in crypto unicorn exchange Coinbase.
In a statement, Goren stressed the firm’s strategy for becoming a long-term investor in the startups without exiting from them early. He believes that the return-on-investment comes as successful startups start growing.
Apart from their investments, the venture capital also developed a for WordPress-based websites, allowing the addition of crypto trading features or even creating an entire exchange.