Early Solana Backer Foundation Capital Raises New $600M Fund

Crypto VCs are starting to bank new funds as enthusiasm returns to the U.S. crypto startup scene.

Bankless
Mar 5, 2025 • 1 min read

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Foundation Capital, an early backer of Solana, secured $600 million for its 11th fund to invest in crypto, fintech, and AI startups.

What’s the Scoop?

Significant Fundraise: The venture firm raises $600 million for its 11th fund, marking a 20% increase over its previous fund.
Focus Areas: The new fund targets early-stage investments in crypto, fintech, and enterprise AI sectors.
Early Solana Supporter: Foundation Capital was an early investor in Solana Labs, partaking in its Series A round in 2019.

Today I’m proud to announce Foundation Capital Fund 11: $600M in support of our enduring commitment to founders.

For 30 years, we’ve stood alongside founders who pull the future into the present, betting early on the ideas that reshape industries

Before revenue. Before product.… pic.twitter.com/rtnoGCavPA
— ashu garg (@ashugarg) March 5, 2025