Near Protocol raises $350M in second nine-figure raise this year

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On April 6, Near Protocol said it raised $350 million in another funding round led by hedge fund Tiger Global. This raise comes less than three months after Near announced a $150 million funding round.

According to Near Protocol the funds will be used to 'accelerate the decentralization of the NEAR ecosystem'.

Besides Tiger Global, other participants of the round were Republic Capital, FTX Ventures, Hashed and Dragonfly Capital, and others.

New York-based hedge fund Tiger Gloabl had $86 billion AUM at the end of 2021 and has a growing footprint in crypto investments. Earlier, Tiger Global invested in blockchain infrastructure platform Blockdaemon, crypto exchange FTX, payment processor Moonpay and blockchain intelligence provider TRM Labs.

Since Near's mainnet launch in October 2020, it has focused on creating a user-friendly platform for developers of decentralized applications.


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