Arcanum Capital, a Dover, Delaware-based global venture capital firm focused on early and growth-stage investments in the Web3 sector, announced, in partnership with Luganodes, the arrival of its second fund, the Arcanum Luganodes Fund.
While Arcanum’s Fund I was primarily focused on seed-stage investments in decentralized applications, Fund II will have a key focus on investing in and adding value to promising and upcoming Layer 1 and Layer 2 blockchain networks which provide the technical and economic infrastructure for decentralized applications to run on.
Unlike Fund I, the Arcanum Luganodes Fund II will be tokenized. Lawrence Newhook will serve as a director of both Arcanum Emerging Technologies Fund I and Fund II, in addition to his main role as President of DigitalArray ISAC Ltd., a Bermuda-domiciled platform of regulated investment funds that facilitates the launch of institutional funds for investment managers.
The firm will employ the digital securitization solution offered by DigitalArray’s sister company, Laureate Digital Markets, to tokenize Fund II, providing investors the ability to sell their fund interests prior to the end of the Fund’s term on a regulated secondary platform or peer-to-peer (subject to any required restrictions on transfer).
Led by CEO Anuj Shankar, Luganodes is a ‘staking services’ provider and is a Swiss-operated, institutional-grade, non-custodial staking provider born out of the Lugano Plan B Program, an initiative driven by Tether and the City of Lugano. It is a staking offerer with over $1 Billion of staked assets under management across 30+ networks.
Established in 2020 by James McDowall, Luchang Zheng, Karthik Bupathi, and Rahul Andra, Arcanum Capital is a venture capital firm focused on supporting enterprising and teams that are establishing decentralized networks and applications for the global blockchain ecosystem. Its team consists of experienced investment professionals who understand what it takes to evaluate, incubate and scale promising teams and ideas. It has been on the ground as operators, investors, and incubators in frontier and emerging markets, including India, since 2013, and have worked with startups, decentralized networks, and publicly listed companies.