North Island Backing Cosmos After Closing Second $125 Million Fund

North Island is “investing pretty heavily” in the Cosmos infrastructure service platform, which, with North Island’s support, aims to become more interoperable, decentralized, and secure in its most recent incarnation. North Island is a crypto-focused investment firm that recently closed its second fund at $125 million. The plan entails purchasing the native token of Cosmos and investing in ventures growing within the Cosmos ecosystem. According to Travis Scher, a co-founder of North Island, developers have started to favor Cosmos “quite aggressively” over the past six months. Cosmos Blockchain Network The blockchain network Cosmos comprises flexible, application-specific blockchains. The Inter Blockchain Communication (IBC) protocol allows these chains to communicate. The Cosmos Hub is a separate blockchain protected by validators that stake ATOM, the native coin of Cosmos. The second North Island fund has made about 30 investments and is almost twice as big as the first one, completed in 2020 and valued at $70 million. The new fund anticipates investing in 30 to 40 businesses, mainly at the seed stage. Scher said. “The fund is big than the last fund primarily because the opportunity set in crypto is meaningfully larger than it was in 2020. Back in 2020, only two blockchains had any usage or momentum. There was no interest or momentum in NFTs whatsoever. There was just budding momentum in the DeFi space.” Although there are n...