Archetype Funds Crypto's "Pre-Uber" Moment with $100M Raise

Archetype, a New York-based crypto venture capital firm, has raised over $100 million for its third fund, Archetype III, marking the latest step in its strategy to back early-stage blockchain startups. The fund, which closed in September 2025, builds on the firm’s prior capital raises: a $55 million first fund in 2021 and a $155 million second fund in 2022, both deployed during previous crypto bull cycles. While the third fund is smaller in size, the firm emphasized a deliberate focus on quality over quantity, with only one new limited partner (LP) joining existing institutional backers such as pensions, endowments, and funds of funds like Accolade Partners and TrueBridge Capital ^[1].

The firm’s investment thesis centers on blockchain’s potential to underpin global commerce, a vision articulated by founder and general partner Ash Egan. Comparing the current crypto landscape to the “post-AOL, pre-Uber” phase of the internet, Egan argues that onchain infrastructure is nearing mainstream adoption. Archetype III will target early-stage companies building decentralized applications, modular protocols, and consumer-facing crypto tools, including projects in payments, stablecoins, and decentralized physical infrastructure networks (DePIN) ^[2]. The fund has already deployed capital into undisclosed investments, adding to its existing portfolio of firms like Privy (acquired by Stripe), Monad, and Hut 8.

Archetype’s track record includes exits and liquidity events such as the acquisition of Privy and the reverse merger of US Bitcoin Corp with Hut 8, which now partners with Eric Trump’s American Bitcoin. The firm also holds liquid crypto assets, including $10 million in Solana and $40 million in Ethereum, contributing to its $350 million in assets under management. Egan highlighted a long-term approach to portfolio management, noting that Archetype has returned $10 million to investors from its first fund but aims to avoid premature exits to capture compounding value ^[1].

The firm’s New York-centric strategy positions the city as a hub for crypto innovation, drawing parallels to Silicon Valley’s Sand Hill Road. Archetype’s proximity to projects like Uniswap and Zora underscores its role in fostering a local ecosystem. Egan, a veteran of Ethereum-focused ventures like Consensys and Accomplice, has previously identified high-potential startups such as Chainalysis. His vision for Archetype III includes supporting consumer-facing crypto apps like Remix, an AI-powered platform for creating mobile games, which he views as critical to building “killer products” and scaling user networks ^[1].

Institutional investors have expressed confidence in Archetype’s concentrated, partnership-driven approach. Aram Verdiyan of Accolade Partners praised the firm’s ability to identify “emergent and enduring trends,” while Andrew Keys of The Ether Machine highlighted its “hands-on” support for founders. The firm’s third fund reflects a broader industry trend of institutional capital flowing into crypto, driven by regulatory clarity and corporate adoption. As crypto infrastructure matures, Archetype aims to accelerate its integration into mainstream commerce, positioning itself as a key player in shaping the next decade of blockchain innovation ^[2].