Castle Island, a16z founders back Escape Velocity's $25 million fund
Mahesh Ramakrishnan and Salvador Gala, two 27-year-old Goldman Sachs alumni, have raised $25 million for their crypto-focused venture firm's first fund. the Boston-based firm started fundraising in June last year, when many crypto VCs were licking their wounds.
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. Backing comes from founders from several top tier venture institutions such as Andreessen Horowitz (a16z), Castle Island Ventures, Multicoin, Ribbit Capital and Framework Ventures — as well as senior partners from Apollo Global Management, where Ramakrishnan previously worked.
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