Pillar VC Raises $192M for Two Funds With Crypto Focus

Venture capital firm Pillar VC raised $192 million for two funds focused on crypto as well as fintech, artificial intelligence/machine learning and enterprise Software-as-a-Service (SaaS).

The Boston-based firm raised $169 million for its Pillar III fund and $23 million for Pillar Select, according to an announcement Tuesday.
Investments will be focused on northeast U.S., it said.
The funds will make pre-seed investments of $50,000-$500,000 and seed-round investments of $2 million-$6 million in startups focused technologies including crypto, fintech, and AI/ML.
USDC-backer Circle is among Pillar's beneficiaries from previous funds. The firm joined a mammoth $440 million fundraising round in May alongside Fidelity and CoinDesk parent Digital Currency Group.
Circle intends to go public later this year via a SPAC deal worth $4.5 billion.

UPDATE (July 20, 16:28 UTC): Corrects dollar amount of how much was raised for Pillar III and Pillar Select funds.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

33

02

23

48

Pillar VC Raises $192M for Two Funds With Crypto Focus

The Boston-based firm's investments will be focused on northeast U.S., it said.

10 Years of Decentralizing the Future