Lemniscap raises $70 million in funding to invest in early-stage Web3 startups

Investment firm Lemniscap has raised $70 million in funding to support early-stage Web3 projects and pioneering startup founders in the space. The firm is honing in on areas such as zero-knowledge infrastructure, consumer applications, and decentralized physical infrastructure (DePIN).

Leading the funding round was Accolade Partners, a New York-based venture capital firm that recently raised over $1 billion across three funds. This new fund highlights a growing interest in the Bitcoin ecosystem, where developers have been increasingly focused on introducing practical uses to the blockchain network.

The $70 million fund will explore a wide range of opportunities across the blockchain space, with an emphasis on Zero Knowledge Infrastructure, Consumer Applications, Bitcoin Ecosystem, Security, Phygital, and Decentralized Physical Infrastructure (DePin).

Founded in 2017 by Roderik van der Graaf, Lemniscap has been at the forefront of investing in crypto assets and blockchain startups. Over the past seven years, the firm has made a significant impact in the crypto space, driven by a belief that blockchain technology will fundamentally disrupt traditional business models, leading to major changes in the global economy.

Roderik van der Graaf, with a strong background in finance from top financial institutions like Deutsche Bank, HSBC, Rabobank, and Bear Stearns, launched Lemniscap with the vision of building an institutional-grade investment firm for the then-emerging blockchain space. He assembled a team of crypto veterans with expertise in finance, economics, computer science, and entrepreneurship. Since its inception, Lemniscap’s core team has remained committed to its mission of supporting a decentralized and transparent future.

“In the seven years since we launched, reputation has become one of our strongest assets among founders, who we genuinely treat as partners. This new fund will give us significant financial resources to support the next generation of ambitious industry pioneers,” said van der Graaf.

Lemniscap’s track record includes managing multiple funds, outperforming industry benchmarks, and making substantial gains during market downturns. The firm has grown from a follow-on investor to a leading force in the Web3 industry, with a portfolio that includes top protocols and critical infrastructure projects such as Avalanche, The Graph, Axelar, StepN, Paragraph, LN Markets, Aligned Layer, Eigen Layer, Puffer, Monad, and Anoma.

Marcos Veremis, Partner at Accolade Partners, commented: “The Lemniscap team has consistently demonstrated their ability to identify exceptional founders and projects in Web3. We are confident in the fund’s strategy and look forward to a successful partnership.”