Escape Velocity raises $62M to back DePIN infrastructure projects
The raise underscores venture investors’ selective return to infrastructure-heavy crypto bets as DePIN struggles to move beyond early token launches.
Crypto-focused venture capital firm Escape Velocity has raised nearly $62 million to invest in decentralized physical infrastructure network (DePIN) projects, signaling continued venture interest in the sector despite a broader slowdown in crypto and technology funding.
As first reported by Fortune on Thursday, the raise marks Escape Velocity’s second fund dedicated to backing founders across DePIN and other crypto-native sectors. The fund closed in December and drew support from investors including Marc Andreessen, co-founder of Andreessen Horowitz, and Micky Malka, founder of Ribbit Capital.
Cendana Capital, a venture fund-of-funds that invests in early-stage managers, allocated $15 million to the vehicle.