Meltem Demirors Seeks $75 Million for New Venture Funds

Meltem Demirors, the former chief strategy officer of the digital asset manager CoinShares, is aiming to raise $75 million for two new venture funds, as reported in filings with the Securities and Exchange Commission.

The two new funds are named Crucible Capital Fund I and Crucible Capital Fund 1-A, targeting $45 million and $30 million respectively. Demirors is identified as the Managing Member of the General Partner for both funds. The initial report on the filings was done by Fortune.

Demirors served as CoinShares’ CSO from May 2018 until January 2024. Currently, she is the Director of the University of Oxford’s Blockchain Strategy Programme, according to her LinkedIn profile.

Crypto Venture Funding

According to The Block Research, 759 venture funding deals surpassed $3.2 billion in the second quarter of 2024, marking an 8% increase from the previous quarter.

The second quarter of this year experienced a rise in the number of deals for Early Stage, Pre-Seed, Seed, and Pre-Series A raises. However, early-stage companies specifically saw a decline in total investments, dropping from $1 billion in Q1 2024 to $828 million in Q2 2024.