German VC Greenfield One Raises $160M Crypto Fund With Backing From Swisscom, Others

Berlin-based venture capital (VC) firm Greenfield One has raised a $160 million (142 million euros) fund from telecom giant Swisscom, Galaxy Digital and others, to invest in crypto projects, according to a press release shared with CoinDesk.

Greenfield One’s third fund is likely one of the largest crypto funds in Europe to date. Fabric Ventures’ $130 million fund, which was announced earlier this year, was previously thought to be one of the largest European crypto funds.
German media giant Bertelsmann also invested in the $160 million fund. Bertelsmann had invested in Greenfield One’s second fund, which had a target volume of $56 million (50 million euros).
Other investors include Hamburg-based family office Lennertz & Co., Frankfurt-based VC CommerzVentures, and Barcelona-based fund of funds Aldea Ventures. All investors in the fund come from the private sector.
The fund has already made investments in governance lending protocol Paladin, decentralized finance project Brink, and non-fungible token rights management protocol Darkblock, among others, the press release said.
Greenfield One focuses on European Web 3 projects. The firm was an early investor in Celo, which received backing from Deutsche Telekom in April, as well as Dapper Labs’ Flow.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Follow @egreechee on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.