Crypto Fund Surges 1,000% to $60M Since 2018 Launch

Pure Crypto’s flagship fund has surged nearly 1,000% since its 2018 launch, reaching a $60 million valuation, according to a report by Cryptonews. Founded by Jeremy Boynton and Zachary Lindquist, the firm has evolved from a crypto experiment within a traditional wealth management firm into a $100 million crypto-focused fund of funds. The duo now aims to raise capital for a fourth fund, betting on what they describe as the final phase of venture-style returns in the crypto sector [1].

The firm’s strategy centers on selective allocation to a handful of high-performing crypto-native managers. Multicoin Capital, a key partner, plays a central role in the portfolio. Boynton emphasized the firm’s disciplined approach, stating, “We’ve fired other managers… feed the strength, starve the weakness” [1]. This focus on performance has attracted capital from 19 family offices, with clients ranging from $10 million to $50 million in net worth.

Boynton and Lindquist attribute their success to timing and regulatory clarity. They cited the 2024 stablecoin bill signed into law by Donald Trump as a catalyst for crypto’s integration into mainstream finance. “We think this is maybe the last hurrah in the venture capital-esque nature of crypto returns,” Boynton told Fortune, noting that the sector is transitioning from speculative growth to institutional adoption [1]. The founders believe this shift marks the end of the “wild west” era of outsized gains and the beginning of more traditional market dynamics.

The fund’s performance aligns with broader trends in crypto venture capital. Q2 2025 saw a resurgence in fundraising, with the sector raising $10.03 billion—the highest quarterly total since 2022. However, the growth of Pure Crypto’s fund predates this wave and reflects a long-term, strategic bet on crypto’s maturation [1].

Despite the firm’s confidence, it has not yet secured capital for its upcoming fourth fund. Boynton remains optimistic, predicting the firm will raise “tens of millions” by year-end. The fund’s potential success hinges on maintaining its rigorous curation of managers and leveraging its existing family office relationships.

Pure Crypto’s trajectory underscores the evolving role of crypto in institutional portfolios. By focusing on alpha generation during a transitional phase, the firm has positioned itself as a bridge between speculative innovation and regulated finance. Its approach, however, carries inherent risks, as the crypto market remains susceptible to regulatory shifts and macroeconomic pressures.

Source: [1] [title: Pure Crypto’s First Fund Soars Nearly 1,000% to $60M Since 2018 Launch] [url: https://cryptonews.com/news/pure-cryptos-first-fund-soars-nearly-1000-to-60m-since-2018-launch/].