Lennertz & Co. Eyes $165 Million for New Crypto Fund

German Investment Firm Lennertz & Co. Announces $165 Million Cryptocurrency Fund

In a significant development within the cryptocurrency investment landscape, German investment firm Lennertz & Co. is set to raise $165 million for its third cryptocurrency fund. Oksana Tiedt, head of fund investments at Lennertz, confirmed that the fund has achieved its first close, although specific figures regarding the amount raised were not disclosed.

A Track Record of Investments

Founded in 2015, Lennertz & Co. operates as a multi-family office that diversifies its investments across various asset classes—ranging from private equity to traditional venture capital. The firm has been exploring the blockchain sector since 2016 and successfully launched a $35 million fund of funds in 2020 following private investments.

Previous Fund Initiatives

In 2022, Lennertz introduced a second fund, amassing $65 million. Notably, as a fund of funds, Lennertz does not directly invest in portfolio companies or engage in token trades. Instead, their strategy involves investing in other firms, including prominent crypto venture capital entities like Multicoin, Polychain, and Hack VC.

Focus on Blockchain-Focused Venture Capital

With the establishment of this third fund, Lennertz plans to strategically invest in a select group of 8 to 10 blockchain-focused venture capital funds. While some of these investments will be made in Europe, the majority will target the United States market. Tiedt revealed that Lennertz has already successfully raised enough capital to invest in two specific funds, namely Polychain and Bain Capital's cryptocurrency initiatives.

Future Outlook

As the cryptocurrency market continues to evolve, Lennertz & Co.'s ongoing commitment to integrating blockchain technology into its investment approach exemplifies a forward-thinking strategy that could position the firm well in the competitive landscape of digital assets.

Conclusion

In conclusion, Lennertz & Co.'s ambitious plans for its third cryptocurrency fund highlight the firm’s dedication to expanding its portfolio within the blockchain space. With a solid foundation and previous successes, this move marks an important step as they navigate the complexities of cryptocurrency investments.