Republic Launches $60M Crypto Seed Fund
The crypto arm of financial services company Republic has launched a $60 million seed fund, its first and flagship fund. Republic is a crowd-equity platform that offers investments in startups, real estate, gaming and crypto. The company is divided into three arms: the private venture-focused Republic Capital; Republic Crypto; and republic.co, which is the retail, crowdfunding part of the business. Andrew Durgee, the head of Republic Crypto, said the new fund has already deployed around $11 to $12 million to companies that include video game Star Atlas, TikTok competitor Chingari and a “handful” of other companies. Republic originally expected the fund to deploy over two years but now estimates it’s running six months ahead of schedule.