Crypto investment firm DBA raises $68M fund

New York-based crypto investment firm DBA has raised a $68 million second fund, The Block reported. This follows its first $50 million fund, which was established in 2023. The firm plans to invest primarily in early-stage projects. Its first fund invested in projects such as DoubleZero (2Z) and Monad (MON), as well as stablecoin app Payy, capital formation platform MetaDAO, and Bitcoin scalability solutions developer Alpen Labs. The second fund is reportedly set to focus on areas like decentralized derivatives exchanges, such as Hyperliquid (HYPE), and prediction markets.