Portal Ventures has successfully raised $75 million for its oversubscribed second fund, with expectations to exceed $90 million. Founders Evan Fisher and Catrina Wang emphasized their focus on pre-seed investments and a unique strategy of supporting one project per category, enabling them to provide full backing to their investments. They described their winning formula as a mix of selecting the best founders, identifying emerging theses, and leveraging a powerful network. Their initial fund, launched in early 2022, faced many challenges but laid the groundwork for their current success. The new fund, larger than the initial $40 million, reflects their high-risk, high-reward approach. Alongside Portal Ventures, several other funding developments were noted, including Notabene's $14.5 million funding round and Alluvial's $4.3 million investment. The environment for crypto investments has evolved since the duo began raising funds at the start of the year, which coincided with bitcoin's significant gains.

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