Inaugural Transparency Report by Paxos for PYUSD: All Assets are Overcollateralized

According to documents filed with the U.S. Securities and Exchange Commission (SEC), Web3 venture capital firm Electric Capital is currently in the process of raising $300 million for its third fund, known as the Electric Capital Venture Fund III. The fund has not yet had its initial sale, and the issuance period is not expected to exceed one year.

Electric Capital, headquartered in Palo Alto, California, was founded in 2018 by Curtis Spencer and Avichal Garg. In 2020, Electric Capital successfully raised $110 million for its second venture fund.

As previously reported by The Block, in March 2022, Electric Capital secured $1 billion in venture funding, earmarked for investments in early-stage crypto startups.

According to Crunchbase data, Electric Capital has made a total of 79 investments in the past, with 31 of them as the lead investor.