Breed VC lands $15M for second early-stage crypto fund
What's the deal? Breed VCDealroom has a profile for this one. Try Dealroom → has closed its second fund at $15 million, backing pre-seed and seed startups across crypto infrastructure, decentralised finance, and real-world assets. The Miami-based firm, founded by Jed Breed in 2022, drew commitments from crypto-native backers including FalconX, Nic Carter, Rob Hadick, and Jake Brukhman.
Who's behind the check? FalconX is a digital asset prime broker. Carter, a founding partner at Castle Island VenturesDealroom has a profile for this one. Try Dealroom →, is a returning backer from Fund I; Hadick is a general partner at DragonflyDealroom has a profile for this one. Try Dealroom →; and Brukhman runs CoinFundDealroom has a profile for this one. Try Dealroom →, one of the more established crypto-focused firms.
By the numbers: Securities and Exchange Commission filings from November 2025 showed a first close of $13.58 million from 51 limited partners. That works out to an average check around $290,000, pointing to a base of individual allocators and smaller institutions rather than large endowments.
Why now? The raise came in slightly smaller than Fund I, which closed at roughly $20 million in early 2023. It signals continued appetite for early crypto bets even as the wider venture market stays selective.
What's the endgame? Breed's background gives the firm an edge in crypto infrastructure. Before launching the fund, he served as head of digital assets at CircleDealroom has a profile for this one. Try Dealroom →, where he played a role in creating USDCDealroom has a profile for this one. Try Dealroom →, the second-largest stablecoin by market cap.
The firm has made between 30 and 52 tracked deals across both funds, with recent deployments including M1X GlobalDealroom has a profile for this one. Try Dealroom →, an infrastructure-focused project.
The signal: A sub-$20 million fund backed by a tight circle of crypto insiders shows how the sector's early-stage capital is consolidating around specialist, operator-led firms rather than broad institutional money.
Read more: cryptobriefing.com
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