Pure Crypto, a relatively quiet player in the digital asset space based outside Chicago, has turned heads after revealing its flagship fund has surged nearly 1,000% since its inception in 2018.
Key Takeaways:
Pure Crypto’s flagship fund has surged nearly 1,000% since 2018, now valued at $60 million. The firm is preparing a fourth fund to capture what it sees as crypto’s final phase of outsized venture-style returns. Founders Jeremy Boynton and Zachary Lindquist back only a few select crypto fund managers.What began as a crypto experiment within a traditional wealth management firm is now a $60 million fund, backed by a sharp strategy and family office capital, according to a recent report from Fortune.
Founded by Jeremy Boynton, who also runs Laureate Wealth Management, and managed alongside partner Zachary Lindquist, Pure Crypto has grown into a $100 million crypto-focused fund of funds.
Pure Crypto Preps Fourth Fund
The duo is now preparing to raise capital for their fourth fund, which they say will ride what they see as the final wave of venture-style returns in crypto.
“We think this is maybe the last hurrah in the venture capital-esque nature of crypto returns,” Boynton told Fortune.
Their belief isn’t built on fear of a collapse, but on the view that crypto is fast becoming part of the financial mainstream.
As regulation solidifies, such as the recent stablecoin bill signed into law by former President Donald Trump, and major corporations explore integrating digital currencies, they see the wild west days of outsized gains coming to a close.
Boynton and Lindquist are betting that now is the final window to capture outsized alpha before crypto returns begin to resemble traditional markets.
With clients in 19 family offices, ranging from $10 million to $50 million in net worth, Boynton has built a strong base of capital support.
Pure Crypto doesn’t spread its capital thin. The firm allocates to only a handful of crypto-native investment managers, with Multicoin Capital playing a central role.
“We’ve fired other managers,” Boynton noted. “You know, feed the strength, starve the weakness.”
Despite not having taken a single check for the upcoming fund, Boynton is confident they’ll secure “tens of millions” before year’s end.
Crypto Venture Capital Surges in Q2 2025
Venture capital investment in the crypto sector rebounded strongly in Q2 2025, with companies raising a total of $10.03 billion, the highest quarterly figure since Q1 2022.
June was the standout month, pulling in $5.14 billion, signaling renewed investor appetite after months of stagnation.
Top fundraises included Strive Funds’ $750 million raise in May, focused on Bitcoin-related strategies, and TwentyOneCapital’s $585 million in April.
Other notable companies securing capital were Securitize, Kalshi, Auradine, ZenMEV, and Digital Asset, highlighting growing interest across diverse crypto projects.
Coinbase Ventures dominated investment activity with 25 deals in Q2, followed by Pantera Capital, Animoca Brands, Andreessen Horowitz, and Galaxy.
Dealmaking was widespread across blockchain infrastructure and DeFi sectors, while categories like CeFi, NFTs, and GameFi saw moderate funding.
Seed-stage deals made up the largest portion of fundraising rounds, indicating strong early-stage interest, followed by strategic rounds and mergers and acquisitions.
Series A and incubation rounds accounted for smaller shares, reflecting a diverse funding landscape as the crypto ecosystem continues to mature.
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