Chicago venture firm Jump Capital has reloaded with a new fund to invest in fintech, crypto and other startups.
Jump Capital announced Tuesday that it has raised $350 million for its latest fund, its seventh since launching nine years ago. The fund, similar to the ones before it, will invest in early-stage fintech, IT/data infrastructure, commerce, media and B2B software startups. But this new fund will also have an increased concentration on cryptocurrency startups, Jump says. Jump Capital's sister firm Jump Trading also announced today a new blockchain division called Jump Crypto.
"Our conviction in crypto has rapidly grown as we witness the convergence of market adoption with both retail and institutional participants, the speed of entrepreneurs to build and iterate and the collision of traditional and digital worlds," Jump Capital said in a blog post.
This latest fund follows a $200 million fund Jump Capital raised in October 2019.
Jump has made more than 100 investments to date, including successful exits like Personal Capital, which was acquired by Empower for up to $1 billion, and TubiTV, which was bought by Fox for $440 million.
Its other portfolio companies include fast-growing Chicago firms like M1 Finance and LogicGate.
