1confirmation, a venture capital fund, has declared its interest in investing in crypto startups. The firm plans to commit a total sum of $45 million into the business.

Nick Tomaino, a former employee at Coinbase, has announced that the company plans to use $26 million at the start. This amount will be focused on seed rounds. Tomaino has also said that the company will start small while assessing the viability of the model. After that, it will increase the amount invested if the model turns out to be viable.

Later, in an email he shared with CoinDesk, Tomaino confirmed that the company approved the model, thereby ready to launch more funds. He acknowledged the support from the company's existing base in the contribution of the finds.

Tomaino has expressed his confidence in the crypto industry. This is evident in the blog post that he shared with CoinDesk. In the blog post, he recites the market value of crypto assets ($272B). He cites that the primary use case is investment, though there are also others. In five years' time, Tomaino predicts the total market value at $1T, attributing the increase to the growth of mainstream use cases.

1confirmation is a significant investor in the crypto industry. It has ventured into a significant number of businesses in new companies inside the industry. Some of the companies include but are not limited to Tendermint, Commonwealth, and OpenSea. The firm has invested both in startup equity as well as cryptocurrency tokens.

Tomaino hasn't disclosed those who are involved in the new fund. He prefers to keep their details private, only stating that the program is "primarily supported by their existing fund ILP's. However, during the announcement of 1confirmation, the names of some limited partners were also announced. The partners' names, too list a few, include Runs Capital, Real Ventures, Balaji Srinivasan, and Marc Andreessen, among many others.

Tomaino also stated that the more funds invested will give room for the company to sign checks with more copious amounts. The larger funds will also enable 1confirmation to be closer to space pioneers.

In his (Tomaino's) email again, he quotes the exact batch amounts and their uses. Fund I, which was released first, was aimed at providing capital for early-stage development.

The funds were to be given to founders who were responsible for setting up infrastructure as well as other middleware for Crypto's decentralized web. Fund II was also to be used for the same purpose as fund I. However, this time it was to be usused on a larger scale since the funds were more than Fund I. Fund I was between $250k - $1M, while Fund II was between $1M and $2M.

Tomaino is also a blog post writer, and in one of his contents, he emphasizes that chasing the trend while investing isn't as important as investing prudently. He says that venturing in a "disciplined, mission-driven, and focused founders is a sure bet. Besides that, he predicts that BTC will always be at the helm of the market of decentralized finance, seconded by Ethereum.

Despite citing some snags like infrastructure challenges along the way of the success of Ethereum, he quotes that the currency's future looks bright.