Founder and general partner Jed Bride told WJB that Breed VC, a data encryption company, has completed the fundraising of its first fund and invested a large portion of its $20 million overall target fund. The fund is supported by well-known password investors such as Knicks Carter, Tribal Capital and Shima Capital.

The venture capital firm closed the fund at the beginning of this year, which means that equity financing appeared during a period of serious unrest after the collapse of password trading center boss FTX.

I've known Jed since we met in the Melbourne password scene in 2018. I support him because he has a good sales record as an investor, attaches great importance to data encryption and has excellent Internet access in this area, "Castle Island Ventures general partner Carter said in an email statement. "I launched my first fund during the bear market and I understand how difficult it is to raise money at this stage. However, this is usually the best time to deploy. I have complete confidence in him, and I am extremely proud to make him my first limited partnership bank draft. "

Breed VC will focus on seed early stage and seed equity financing. Vertical industries of interest include decentralized finance (Defi), consumer-centric decentralized applications (Dapp), and no alternative dynamic password (NFT) infrastructure blockchain technology extension solutions.

"our own mid-and late-stage graduation thesis has paid close attention to the latter groundbreaking use of passwords. In the long run, with the improvement of scalability and customer experience, every interaction on the network will be built on the track of data encryption. The password will continue to exist, and we plan to actively help builders create the future, "Bride said."

Jed Bride's path to passwords began with Bitcoin miners and then moved to Circle, where he was in charge of digital currency and helped launch USDC stablecoin. Subsequently, she assumed Defi diligence at the departmental hedge fund Arena Capital and honed her project investment teeth as an angel investor.

Breed VC has struck its first deal with a portfolio company, a zero-knowledge online lending platform that has not officially announced details. In addition to asset support, Breed VC will also provide operational support for enterprises. Bride stressed that the fund is small and beneficial to one-on-one support, and that he can also use his extensive password Internet to ask for help on everything from tokenology interior design to relationship building.

Upgrade (15 "44 UTC):The title and the text of the article respond that Knicks Carter is a personal finance investor.