San-Francisco-based Shima Capital has created a USD 200 million fund for blockchain businesses

August 17, 2022, SAN FRANCISCO -Shima Capital (“Shima”), a global venture capital firm that invests in early-stage blockchain businesses through all market cycles, said today that it has created Shima Capital Fund I (“Fund I” or the “Fund”) and raised USD 200 million in total for it. Influential backers of the Fund included Andrew Yang, Bill Ackman, Animoca, OKex, Mirana Ventures, Republic, and Dragonfly Capital, among others.

Shima Capital, established in 2021 by seasoned investor Yida Gao, assists blockchain businesses in their pre-seed and seed phases by offering hands-on monitoring to help each company reach its full potential. 

Shima’s first Fund intends to continuously provide funding when creators need it most, in addition to aiding in the recruitment of talent, the creation of communities, the amplification of tales, and the promotion of the acceleration of technological R&D. 

The Shima team comprises seasoned investors, successful operators, and past founders who have united on a goal to assist brave teams in establishing and growing their businesses.

Yat Siu, Animoca Brands’ executive chairman, and co-founder:

“Early stage venture finance for Web3 is essential, and Yida Gao and Shima Capital are good examples. Shima’s dedication to helping entrepreneurs and readiness to break down barriers for them aligns perfectly with the philosophy of Animoca Brands. It’s an enormous honor to work with Shima Capital, especially in light of the Fund’s strong belief in the expansion of digital property rights on a worldwide scale and in an open metaverse.”

According to Jeff Ren, Head of Investment at OK Group:

“We at OKX Blockdream Capital feel that Shima Capital has shown good outcomes in identifying paradigm shifts in the cryptocurrency market.  With Shima Capital’s other LPs, we are looking forward to building a working partnership with them.”

Gao, who formerly held the positions of Co-Founder and General Partner of Divergence Digital Currency, a USD 100 million or more cryptocurrency hedge fund that has increased by over 15 times since its founding in 2017, will oversee the Fund’s investing strategy.

 Gao has also held the position of General Partner with the venture capital firm Struck Capital in Los Angeles. Before this, he worked as an M&A investment banker at Morgan Stanley and a technology investor at New Enterprise Associates, a USD 25 billion+ venture capital fund. Gao earned degrees in mathematics and computer science from MIT and spent some time at Stanford’s Graduate School of Business.

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