Portal Ventures has successfully raised $75 million for its second fund to support pre-seed Web3 startups. Investors include prominent figures like Marc Andreessen and Chris Dixon from a16z, along with contributions from Accolade Partners, Theta Capital, and CrossLayer Capital. This venture firm, based in New York City, emphasizes early-stage investment in unique projects, often committing support even before a formal pitch is presented. The fund targets specific business models, including Bitcoin programmability, decentralized infrastructure, and maximal extractable value. Despite a reported decline in overall investments in the crypto sector, early-stage funding has thrived, comprising 85% of all capital invested in this space in recent months. Year-to-date, venture capitalists have allocated $8 billion into crypto startups, indicating a strong trend toward early-stage funding as part of a resilient market recovery in blockchain investments.

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