VC Greenfield One Raises $160 Million In Biggest Fund Yet

German-based VC Greenfield One has raised $160 million in what is said to be one of the largest crypto funds in Europe. The fund was the firm’s third funding round and it’s largest to date. 

The investments came from several companies including telecom giant Swisscom, Galaxy Digital, and others. The funds raised will be used by VC Greenfield to invest in crypto projects, according to a press release

The venture capital firm’s third fund is likely one of the largest crypto funds to be held in Europe to date. Fabric Ventures’ $130 million fund, which was announced earlier this year, was previously thought to be one of the largest crypto funds in Europe. 

Bertelsmann (a German-based media giant) also invested in the $160 million fund. Bertelsmann had invested in Greenfield One’s second fund, which had a target volume of $56 million.

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Other fund investors included Hamburg-based family office Lennertz & Co., Frankfurt-based VC CommerzVentures, and Barcelona-based fund of funds Aldea Ventures. All investors in the fund come from the private sector, making the total amount raised even more impressive. 

Greenfield One’s third fund has already invested into governance lending protocol Paladin, decentralized finance project Brink, and non-fungible token rights management protocol Darkblock, as well as other projects, according to the press release.

Greenfield One focuses on Web 3.0 projects that are based primarily in Europe. The firm was an early investor in Celo, which received backing from Deutsche Telekom in April, as well as crypto-giant Dapper Labs’ Flow.
Venture Capital Greenfield One’s third funding round is among many funding rounds that are currently happening in the crypto space. In July this year the European Investment Fund (EIF) which comprises the European Union, the European Investment Bank and other institutions put $30 million into a Fabric Ventures funding round.