DBA raises $68 million for its second crypto investment fund

A crypto investment company based in New York DBA has raised $68 million for its second venture fund, supplementing the $50 million Fund I launched in 2023. According to the announcement, both are closed-end venture funds with a 10-year term, investing in both private and public markets, with a focus on leading roles in early-stage rounds.

DBA is co-founded by Jon Charbonneau — a renowned Ethereum expansion analyst — and Michael Jordan, a former co-head of investments at Galaxy Digital.

DBA’s previous portfolio includes base layer infrastructure projects such as DoubleZero and Monad, the stablecoin application Payy, the ICO fundraising platform MetaDAO, and Alpen Labs — a Bitcoin scaling solution development company.

DBA also stated that one or more funds they manage hold significant positions in the HYPE token. The company believes that DEXs like Hyperliquid, ICO platforms, and prediction markets are expanding their roles in on-chain trading and fundraising.