Multicoin Capital: Will not expand investment scope to pure AI projects, the cryptocurrency field remains a core advantage

According to Bloomberg, Spencer Applebaum, General Partner and Co-Head of Venture Capital at Multicoin Capital, stated that unlike institutions such as Paradigm, Framework Ventures, and Haun Ventures, which are expanding their investment scope beyond the crypto space, Multicoin will not extend its investment scope to pure AI projects, as its strengths lie in the crypto field, and believes that many investors are "forcing" a search for intersections between crypto and AI.

The $422 million venture capital fund raised by Multicoin in 2022 has been deployed slowly due to the decline in valuations of startup projects following the collapse of FTX. Spencer Applebaum also mentioned that HYPE remains the largest position in Multicoin's hedge fund. Currently, Multicoin's assets under management stand at $2.7 billion.