Dao5 raises $222 million fund to boost institutional crypto investments

Investment firm dao5 announced on Thursday the closing of its second fund with $222 million, aiming to foster institutional investments in cryptocurrencies. This raise brings dao5's total assets under management to approximately $550 million. The fund will target stablecoin networks, state-sovereign artificial intelligence, and public onchain infrastructure. This move occurs amidst increasing institutional interest in digital assets, spurred by the approval of spot Bitcoin and Ether ETFs last year. Additionally, favorable regulatory shifts have encouraged investments into cryptocurrencies, exchanges, and blockchain firms. Dao5, founded in 2022, has invested in over 50 companies and plans to transition into a decentralized autonomous organization (DAO) later this year.