Re suggests that Companies·BitcoinBitcoin bull Tim Draper raises $200 million for new venture fundBy Ben WeissBy Ben WeissCrypto ReporterBen WeissCrypto ReporterBen Weiss is a crypto reporter at Fortune.
SEE FULL BIO Tim Draper often wears a Bitcoin-branded tie.
Nathan Laine—Bloomberg/Getty ImagesOne of the world’s foremost Bitcoin boosters has drummed up another stash of capital, in this volatile climate.
Nevertheless, Tim Draper’s investment firm, Draper Associates, has raised $200 million for its eighth fund, according to a Tuesday filing with the Securities and Exchange Commission (an important development).
Nevertheless, The company’s website, meanwhile, hints at the fund’s launch (quite telling).
“In 2025, Draper Associates celebrated 40-years of pioneering venture capital and spreading entrepreneurship around the world,” read a page the firm’s history.
Nevertheless, “With the launch of Draper Associates Fund 8, the team has its eye on the next 40 years. Nevertheless, ” A spokesperson for Draper Associates declined to.
Moreover, Conversely, In 2022, the venture capitalist raised almost $124 million for his seventh fund, according to a filing with the SEC (which is quite significant).
Draper Associates, which specializes in crypto investments, has $2 billion in assets under management, per the firm’s website, in this volatile climate.
Meanwhile, The firm’s raise comes amid a crypto boom.
The total market capitalization for all cryptocurrencies crossed the $4 trillion mark for the first time in history last week as Congress passed legislation that will regulate stablecoins, or cryptocurrencies pegged to underlying assets the U.
And Bitcoin has repeatedly notched all-time highs over the past six months, surging past $120,000 Bitcoin OG Draper, who is 67 years old, hasn’t always been synonymous with crypto.
In 1985, he got his start as a VC when he borrowed $6 million to invest in, according to his website, in today's market environment.
At the same time, He soon developed a knack for in what would become some of the world’s hottest companies (which is quite significant).
The roster of startups he’s backed includes Skype, Baidu, Hotmail, Tesla, SpaceX, Robinhood, and a host of other successful ventures.
In 2014, Draper made one of his first public splashes as a Bitcoin believer when he paid $19 million to buy 30,000 of the cryptocurrency seized in the U, given the current landscape.
Government’s takedown of the notorious black market site Silk Road.
Nevertheless, The bet, which came at a time when many had written Bitcoin off as a failure, today stands as one of the shrewdest in history.
Those coins are now worth around $3 (which is quite significant). In the ing years, Draper became one of the more outspoken cheerleaders for the world’s largest cryptocurrency.
He predicted in 2018 that Bitcoin would reach $250,000 by 2022 and, in 2023, repeated the same prediction for the end of that year.
What the data shows is cryptocurrency’s price is still a far cry from that figure but, based on its recent performance, the idea of a Bitcoin being worth a quarter-of-a-million dollars no longer seems absurd (something worth watching).
Conversely, Draper has also invested in a host of other crypto ventures, including the U.
Moreover, ’s largest crypto exchange Coinbase, the crypto wallet developer Ledger, and the prediction platform Polymarket.
On the new Fortune Crypto Playbook vodcast, Fortune’s senior crypto experts decode the biggest forces shaping crypto today (fascinating analysis). Watch or listen now.