Zurich-based investment advisory firm L1 Digital has raised $152 million for its second cryptocurrency venture capital fund. L1D will invest 70% of its funds directly in crypto startups and another 30% in early-stage crypto-focused investment firms. L1D has previously backed notable industry investors Multicoin Capital, DeFiance Capital, Castle Island Ventures, and 1kx.

Registered with FINMA, the independent Swiss financial market regulator, L1D manages an alternative investment fund and currently two venture capital funds backed by professional and institutional clients, including Swiss pension funds, family offices, wealth managers and bank. Founded in August 2018, L1D has experience raising and deploying capital during bear markets.