Venture capital firm Ixora has announced that it will be ‘imminently’ launching a new $15 million fund specifically for new cryptocurrency projects, with the capital already fully committed. The new fund will have a global focus, and will pay particular attention to developing economies.

Ixora’s core focus is on impact investments, particularly in relation to social and economic mobility. It currently manages 3 funds, respectively focusing on early stage startups, special situations, and venture debt. Its portfolio currently includes prominent fintech startups Aspiration and MarketX, both of which have strong ties to the Los Angeles area.

Managing Partner Benjamin Z M Lee said: “Over the past 6-12 months, we have seen many crypto and NFT projects out there that have tremendous potential for facilitating economic mobility. Our new fund will largely focus on the same investment themes that we have been known for within the startup ecosystem. There is no doubt that we are still in a very early phase of the DeFi boom, and we are very optimistic about the prospects for the space – especially in emerging markets.”