Peter Thiel's venture capital firm Founders Fund has made a 'strategic long-term investment' in crypto accelerator Alliance.
Crypto accelerator Alliance has received an investment from Peter Thiel's venture capital firm, Founders Fund, which manages over $12 billion in total assets.
It is a "minority stake," Alliance co-founder Imran Khan told The Block when asked — declining to specify the exact percentage. Khan said the transaction took place last October, with the partnership details finalized in January. "We're investing in and partnering with Alliance DAO because we believe there is a need for crypto-specific accelerators," Joey Krug, partner at Founders Fund, told The Block. "Our partnership focuses on supporting Alliance rather than starting our own accelerator, which we think aligns better with founders' long-term interests.
Khan clarified that Founders Fund hasn't invested in Alliance's funds but has taken a stake in the accelerator.
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