Key Takeaways
- Ego Death Capital closes $100 million fund focused on Bitcoin startups.
- Fund II will lead Series A rounds for companies building on Bitcoin and its layers.
- Lyn Alden emphasizes viewing Bitcoin as infrastructure, not just an asset.
Ego Death Capital, a venture capital firm focused exclusively on the Bitcoin ecosystem, has finalized its second fund at $100 million.
This move doubles down on supporting early-stage startups developing on the Bitcoin blockchain, with a particular emphasis on its emerging application layers like the Lightning Network, Fedimint, and Discreet Log Contracts.
Fund II details
The fund close comes 18 months after initial plans were announced in January 2024.
Fund II is set to lead Series A rounds, issuing initial checks between $3 million and $8 million to companies with working products and early traction.
The firm’s partners note a gap in Series A funding for Bitcoin-focused startups, where many founders struggle to find lead investors with both deep technical expertise and a long-term vision.
Investment approach
Lyn Alden, general partner at Ego Death Capital, explained the firm’s investment approach:
We’re investing in businesses that treat Bitcoin not as a trade, but as infrastructure — something to build on, not bet on.
Recent investments
Recent investments from Fund II include Relai, a Swiss bitcoin brokerage; LN Markets, a derivatives trading platform built on the Lightning Network; and Roxom, which is working on a global trading system leveraging Bitcoin.
Foundation & growth
Ego Death Capital was founded in 2022, with its first fund raising $25.2 million, plus a $7.5 million special purpose vehicle.
The latest fund further highlights the growing trend of venture capital focusing on the Bitcoin protocol as a secure, foundational layer for real-world applications.
