L1 Digital AG (L1D), a Zurich-based investment advisor focused on digital assets that has $400 million in assets under management, has raised $152 million for its second venture capital fund, the firm exclusively told CoinDesk. L1D will invest 70% of the funds directly into crypto startups and the other 30% into early-stage crypto-focused investment firms. L1D is registered with FINMA, Switzerland's independent financial markets regulator, and manages one alternative investment fund. Founded in August 2018, L1D has had experience with both raising and deploying funds during a bear market. The new L1D Blockchain Venture II SLP fund has already deployed about one-third of its capital.
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