Raising capital is a big battle today. Most traditional firms face the odds while raising capital. However, the lone firm, Dao5, defeats all odds to make a mark.
The company recently established a crypto fund worth $222 million. This achievement will go a long way with the recent IPO-run underway!
Tekin Salami, the MD at Dao5, highlighted that the fund was based only on a segment of individuals and families with high net worth. The Fortune Mag spokesperson recalled the investment to the MD, who said the investors had already received returns on their initial investment!
Salini feels he should credit the investors. In the current market conditions, he wouldn’t have been able to set up this fundraiser event without their active buy-in.
# What Else Went His Way?
Salini believes that the layout of Dao5’s services is another reason it’s profitable now. Firstly, Dao5 offers a complete suite of services to serviceable companies. Trying to explain the reasons behind Dao5’s success, he also said that as a VC, he had to reach out beyond his responsibility niche.
He had been a close friend to the investors. At the same time, explaining the market nitty-gritty to the young founders. Such a close-knit unit is bound to see exceptional success. Dao5 was no exception to that!
# Challenges That Threatened Dao5
Dao5’s journey was not free from challenges. In 2022, the company raised $125 million following the fallout of an FTX debacle. If you recall, the event impacted the whole crypto tribe!
Despite such trailing market conditions, Dao5 invested the funds in Berachain, Bittensor, and similar events! The VC says that the latest round of $222 million will go into down-to-earth projects. The focus is on projects facilitating institutional adaptation, including stablecoins and asset tokenization!
