Lennertz & Co. Targets $165 Million for Third Crypto Fund

German Investment Firm Lennertz & Co. Plans to Raise $165 Million for Third Cryptocurrency Fund

According to Odaily, German investment firm Lennertz & Co. is setting its sights on raising $165 million for its latest venture into the cryptocurrency market. The announcement comes as Oksana Tiedt, the head of fund investments at Lennertz, confirmed that the fund has successfully completed its first close, though specific figures remain undisclosed.

A Brief Overview of Lennertz & Co.

Founded in 2015, Lennertz & Co. operates as a multi-family office and has a progressive approach to investments across various asset classes. Its portfolio includes private equity and traditional venture capital. The firm began exploring blockchain technology around 2016, which led to the launch of a $35 million fund of funds in 2020.

Previous Funds and Investment Strategies

• In 2020, Lennertz launched a fund of funds that focused on diversifying its investment strategy after making private investments in selected funds.
• In 2022, the firm expanded its footprint in the crypto space with a $65 million second fund, targeting generalist funds that integrated cryptocurrency strategies.

As a fund of funds, Lennertz's approach is unique: it does not invest directly in individual portfolio companies or token trades. Instead, it allocates resources to other firms, partnering with reputable crypto venture capital firms such as Multicoin, Polychain, and Hack VC.

Focus of the New Fund

The upcoming third fund aims to invest in around 8 to 10 blockchain-focused venture capital firms, predominantly in the United States, but also exploring opportunities in Europe. Tiedt noted that the firm has already secured enough backing to invest in two established funds: Polychain and Bain Capital's cryptocurrency divisions.

Conclusion

As cryptocurrency continues to evolve, firms like Lennertz & Co. signify a growing institutional interest in the blockchain sector. This new fund underlines the commitment to diversifying investments within the high-potential realm of digital assets, potentially paving the way for further innovative strategies in the investment landscape.