1kx has successfully raised $75 million for its early-stage crypto venture fund, exceeding its target due to high investor interest.

Significant financial backing comes from industry heavyweights such as Marc Andreessen, Galaxy Digital, and Accolade Partners.

The fund will focus on consumer applications in the digital asset sector, with investments in Klin and Pudgy Penguins already underway.

A 2.5% rise in VC funding for crypto startups in the last quarter of 2023 reflects increasing institutional confidence in blockchain technology.

Major venture capital inflows in the blockchain arena include Andreessen Horowitz's $100-million investment and Immutable's $100 million gaming fund with partners.

The launch of spot Bitcoin ETFs in the US is credited with spurring a $1.9 billion venture funding drive in Q4 2023 for the crypto startup ecosystem.

Recent significant investments in firms like Mystiko.Network and MANTRA demonstrate a bullish market sentiment and institutional faith in the crypto space.