Crypto venture firm Archetype raises $100 million for third fund to tap into ‘post-AOL, pre-Uber’ vibe

Core Insights - Archetype has launched a new $100 million venture fund focused on early-stage blockchain companies, marking a return to the market after previous fundraising efforts during a crypto boom [1][4] - The founder, Ash Egan, believes blockchain technology is on the brink of mainstream adoption, comparing the current phase to the internet's evolution from "post-AOL, pre-Uber" [2] - The firm has experienced significant successes in its portfolio, including the acquisition of wallet provider Privy by Stripe and a reverse merger involving US Bitcoin Corp [5] Fundraising and Investment Strategy - Archetype's previous funds include a $55 million fund raised in 2021 and a $155 million fund in 2022, with the current fund being intentionally smaller at $100 million to ensure quality backers [4] - The investor base for the new fund includes pensions, endowments, sovereign wealth funds, and notable venture firms like Accolade Partners, TrueBridge Capital, and Sapphire Ventures [4] - The firm has distributed around $10 million from its first fund back to investors, emphasizing a long-term investment approach [6] Market Context and Future Outlook - The current regulatory environment and institutional interest from Wall Street are seen as favorable conditions for the crypto sector to achieve a breakthrough [3] - Egan's experience in the crypto space dates back to 2015, when he first invested in blockchain technology, indicating a deep understanding of market trends [7] - Archetype currently manages approximately $350 million in assets, with significant liquid investments in cryptocurrencies such as Solana and Ethereum [5]