Even as crypto companies line up in droves to go public, venture capital firms that back blockchain startups have struggled to drum up cash amid a broader dry spell for funds. One exception is Chicago-based CMT Digital, which has managed to secure a sizable new stash of capital, investment partner Sam Hallene told Fortune .

The digital assets-focused VC has raised $136 million for its fourth venture fund, he said. The fundraise closed in early October and attracted a mix of family offices, high-net worth individuals, and some larger institutions. Hallene declined to name specific contributors.

In June 2024, he told Fortune that his firm planned to raise $150 million for its fourth fund. The amount it ultimately secured from limited partners, or LPs, came in below that initial targe

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