CMT Digital, a Chicago-based crypto venture capital firm, has raised $136 million for its fourth fund—falling slightly short of its $150 million target but marking another significant step in its long-term commitment to blockchain and digital asset innovation.
According to Fortune, the fundraising round closed in early October and drew participation from family offices, high-net-worth individuals, and institutional investors, including both new and existing limited partners (LPs). CMT began raising capital for the new fund around June 2024, navigating a period of slower crypto investment activity and broader economic uncertainty.
Ben Weiss
A Tougher Market for Crypto VC Funding
Despite a modest shortfall from its goal, the latest fundraise demonstrates continued investor interest in digital assets, even as crypto venture funding remains well below its pandemic-era peak. Venture firms have deployed $12.45 billion so far in 2025, with $5.23 billion invested in Q1. By comparison, the first quarter of 2022 alone saw $13.3 billion in crypto venture funding—the highest ever recorded.
CMT Digital’s previous funds totaled $25.5 million, $130 million, and $100 million, reflecting a consistent growth trajectory since its founding.
Active Investments and Industry Focus
Investment partner Sam Hallene told Fortune that about 25% of the new fund has already been deployed, with early investments including stablecoin-focused startups Coinflow and Codex. CMT has a history of backing major blockchain players, including Circle (CRCL)—the issuer of USD Coin, which went public this year—and Ethereum developer Consensys, currently preparing for its own IPO.
Niamh Rowe
Founded in 2018 as an offshoot of the quantitative trading firm CMT Group, CMT Digital has invested in more than 150 crypto-related companies to date. Its strategy combines early-stage backing with a focus on firms building the infrastructure and financial systems underpinning Web3 and decentralized finance.
