Escape Velocity Launches $62M Fund for DePIN Investments

Crypto venture firm Escape Velocity has successfully raised a $62 million fund aimed at investing in decentralized physical infrastructure networks (DePIN). The fund will focus on developing crypto networks for physical infrastructure such as telescopes and solar energy. Escape Velocity was founded by former Goldman Sachs employees Mahesh Ramakrishnan and Salvador Gala, and has previously received backing from a16z co-founder Marc Andreessen.