Venture capital firm Uncorrelated Ventures raises $315 million for its new fund, 20% to support crypto startups

According to Bloomberg, Salil Deshpande of venture capital firm Uncorrelated Ventures successfully raised $315 million for a new fund. Despite recent difficulties faced by startups globally, especially in the cryptocurrency industry, Deshpande said the fundraising process went unexpectedly smoothly. The new fund will mainly invest in early-stage projects of traditional foundational software (80%) and similar startups in the cryptocurrency industry (20%). Deshpande believes that blockchain technology still has value in the storage and computing fields. Uncorrelated Ventures currently manages assets of over $700 million, focusing on the US and global markets, especially the Indian market.