Hack VC Raises $150 Million, Sensing Crypto-Industry Rebound (1)

Despite a steep downturn in crypto startup funding over the last year, Hack VC has raised a $150 million fund dedicated to the digital asset industry, the venture capital firm announced Tuesday.

Based in New York, Hack VC has already deployed about a third of the new fund, which focuses on early stage startups, according to managing partner Alex Pack. Hack VC, which has invested in companies including blockchain startup Mysten Labs and crypto financial firm Amber Group, previously raised a $200 million fund in 2022.

“It was a bit more of a challenging environment now than a few years ago, but we did it ...