Crypto-Focused 10T Holdings to Raise $500M in New Fund

The private equity firm has raised $750 million since launching last year.

AccessTimeIconDec 7, 2021 at 10:37 p.m. UTC
Updated May 11, 2023 at 7:03 p.m. UTC
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Crypto-focused private equity firm 10T Holdings plans to raise $500 million in a new fund for the digital assets ecosystem (DAE), according to a regulatory filing. 10T has already raised $750 million since it was founded last year.

The new 10T DAE 3.0 Fund caps a busy year for the firm. In September, 10T added $389 million in capital commitments to its war chest through two inaugural growth equity funds, 10T Fund and 10T DAE Expansion Fund.

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  • 10T had launched a $200 million 10T Holdings fund earlier this year to invest in cryptocurrency startups. The remainder of the firm’s funding has come from co-investment and sub-advised vehicles. The firm’s backing has come from a mix of public pensions, endowments, foundations and family offices.

    Existing 10T portfolio companies include crypto exchanges Kraken and Huobi and staking services provider Figment. The firm was founded by CEO Dan Tapiero, who spent more than 20 years serving as a global macro portfolio manager at Tiger Management, SAC Capital and other hedge funds.

    Venture capital and private equity firms have raised increasingly large funds this year as digital assets rallied. Silicon Valley-based Andreesen Horowitz (a16z) raised $2.2 billion in a new fund over the summer to invest in digital asset platforms and protocols. Last month, Paradigm raised $2.5 billion and became the largest fund in the crypto industry.


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    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


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