Venture capital has witnessed a notable shift as Ego Death Capital successfully raised $100 million for a fund dedicated exclusively to early-stage Bitcoin companies. This capital influx underscores the maturing institutional interest within the digital asset sphere.
Founding partner Nico Leshuga voiced the firm’s specific criteria: backing Series A rounds for companies demonstrating sustainable annual revenues typically ranging between $1 million and $3 million. Leshuga champions Bitcoin’s potential as a foundational, decentralized, and secure technology.
Ego Death Capital positions itself firmly on the Bitcoin ecosystem, an environment capitalizing on heightened institutional adoption. This enthusiasm is significantly fueled by robust performance in US spot ETFs and the demonstrable growth in corporate Bitcoin treasury allocations.
The San Francisco-based firm’s portfolio currently includes several key players: the Roxcom exchange, the Relai savings platform, and Breez—a specialized payments solution leveraging the Lightning Network. However, Leshuga ruled out investment in Bitcoin hardware sectors like mining or wallet creation, emphasizing the fund’s narrow Bitcoin-centric mandate.
Facing intensifying competition for Bitcoin, institutional allocation trends are evident globally. Dozens of prominent companies have bolstered their balance sheets with Bitcoin, with many analysts noting a marked acceleration in this corporate treasury adoption.
Related: VC Roundup: DeFi, AI, hybrid exchanges showcase resilient month for crypto
Crypto venture capital deals rebound in Q2
Expanding beyond Bitcoin, the broader cryptocurrency and blockchain technology sector demonstrated a striking revival in venture capital funding activity during the second quarter of 2025. According to CryptoRank data, cumulative investments reached a cumulative total of $10.03 billion for the quarter.
A substantial portion—nearly half—materialized in the final month, June, alone totaling approximately $5.14 billion. Significant catalysts included American politician Vivek Ramaswamy’s $750 million Strive fundraise and 21 Capital’s substantial $585 million Bitcoin-focused acquisition initiative.
This performance signifies the strongest quarter for crypto VC funding since the record setting first quarter of 2022, which logged total investments of $16.64 billion.
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