Ego Death Capital Secures $100M to Fund Bitcoin-Focused Startups

Venture Capital Ego Death Capital has secured $100 million from fundraising to support bitcoin-focused companies. The company invests in software firms developing enterprises that are built upon the Bitcoin protocol.

According to founding partner Nico Leshuga in an exclusive interview with Axios, the fund’s objective is to support Series A funding rounds for companies earning between $1 million and $3 million in annual revenue.

Scaling BTC Startups with Strategic Early-Stage Support

Notably, the fund primarily targets Series A financing to help scale proven companies, while allocating a smaller share for select early-stage seed investments.

Furthermore, Ego Death Capital is advancing its Bitcoin-focused initiatives amid a surge in institutional interest. This is fueled by the success of the United States’ spot Bitcoin ETFs and the expanding adoption of Bitcoin in corporate treasuries.

To date, the firm has provided funding to multiple startups centered on Bitcoin, including the Roxcom exchange, the Relai savings app, and Breez, a Lightning Network-based payments platform.

According to Lechuga, Bitcoin-based startups can experience explosive early growth. Additionally, because many individuals earn revenue in BTC, they often outperform the asset’s performance. As such, some investors have underperformed by allocating capital to crypto-related enterprises rather than adopting a long-term position in BTC.

Meanwhile, the firm’s investment strategy excludes hardware ventures, such as wallet development, as well as Bitcoin mining and associated infrastructure projects. Unlike many digital asset investment firms, Ego Death deliberately avoids exposure to crypto tokens.

Firms Turn to Bitcoin as a Strategic Treasury Asset

Over the years, an increasing number of both publicly listed and privately held corporations have incorporated BTC into their financial reserves. Earlier in March, Bitcoin staking protocol Solv secured $10 million in its funding round as it aims to build a $100 million BTC reserve. The capital raised will be used to introduce and promote the Bitcoin Reserve Offering (BRO). This solution is tailored for individuals or institutions looking to gain exposure to Bitcoin without the need to purchase the asset.

In related news, GameStop, a leading video game retailer, announced that its board of directors has decided to allocate a portion of the company’s cash reserves to Bitcoin. The retail company also disclosed plans to allocate internal funds or capital raised through future equity or debt instruments toward the digital asset.

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