Pure Crypto’s Debut Fund Rockets 1,000% to $60M—Here’s How They Defied the Bears Since 2018
Crypto's quiet killer just flexed. Pure Crypto’s first fund—launched in 2018 back when 'blockchain' was still a buzzword—has ballooned to $60M. That’s a 10x tear through a market that buried lesser players.
The backstory: While traditional VCs were still debating whether Bitcoin was a scam, Pure Crypto went all-in. No hedges, no apologies. Now? Their conviction looks like a masterclass.
Why it stings: Imagine explaining to your clients why you skipped the 1,000% moonshot to stick with their 2% 'high-yield' savings account. Ouch.
One fund. Seven years. Zero mercy for skeptics.
Pure Crypto Preps Fourth Fund
The duo is now preparing to raise capital for their fourth fund, which they say will ride what they see as the final wave of venture-style returns in crypto.
“We think this is maybe the last hurrah in the venture capital-esque nature of crypto returns,” Boynton told Fortune.
Their belief isn’t built on fear of a collapse, but on the view that crypto is fast becoming part of the financial mainstream.
As regulation solidifies, such as the recent stablecoin bill signed into law by former President Donald Trump, and major corporations explore integrating digital currencies, they see the wild west days of outsized gains coming to a close.
Boynton and Lindquist are betting that now is the final window to capture outsized alpha before crypto returns begin to resemble traditional markets.
With clients in 19 family offices, ranging from $10 million to $50 million in net worth, Boynton has built a strong base of capital support.
Pure Crypto doesn’t spread its capital thin. The firm allocates to only a handful of crypto-native investment managers, with Multicoin Capital playing a central role.
“We’ve fired other managers,” Boynton noted. “You know, feed the strength, starve the weakness.”
Despite not having taken a single check for the upcoming fund, Boynton is confident they’ll secure “tens of millions” before year’s end.
Crypto Venture Capital Surges in Q2 2025
Venture capital investment in the crypto sector rebounded strongly in Q2 2025, with companies raising a total of $10.03 billion, the highest quarterly figure since Q1 2022.
Q2 Closes as The Strongest Fundraising Quarter in Years
June marked a record-breaking close to Q2, with $5.14B raised, making it the strongest fundraising quarter in recent years. The quarter’s top raises include:@StriveFunds — $750M#TwentyOneCapital — $585M@Securitize —… pic.twitter.com/j4rMOpAZw6
June was the standout month, pulling in $5.14 billion, signaling renewed investor appetite after months of stagnation.
Top fundraises included Strive Funds’ $750 million raise in May, focused on Bitcoin-related strategies, and TwentyOneCapital’s $585 million in April.
Other notable companies securing capital were Securitize, Kalshi, Auradine, ZenMEV, and Digital Asset, highlighting growing interest across diverse crypto projects.
Coinbase Ventures dominated investment activity with 25 deals in Q2, followed by Pantera Capital, Animoca Brands, Andreessen Horowitz, and Galaxy.
Dealmaking was widespread across blockchain infrastructure and DeFi sectors, while categories like CeFi, NFTs, and GameFi saw moderate funding.
Seed-stage deals made up the largest portion of fundraising rounds, indicating strong early-stage interest, followed by strategic rounds and mergers and acquisitions.
Series A and incubation rounds accounted for smaller shares, reflecting a diverse funding landscape as the crypto ecosystem continues to mature.
