EXCLUSIVE: Castle Island, a16z partners back Escape Velocity's $25 million fund
Mahesh Ramakrishnan and Salvador Gala have raised $25 million for Escape Velocity’s first crypto fund.
The pair already have $25 million in hard commitments but the total raised could go up to a $30 million cap before the fund officially closes in the coming weeks, Ramakrishnan said in an interview. "I think we're hitting the point at which monetizing that excess capacity is actually far more valuable and cost efficient paradigm than continuing to double down on scale, so we're really investing in that transition," he added.The new fund seeks to invest in early-stage projects that are either decentralizing networks such as wireless and energy or providing tools to enable this transition.
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