Prime Highlights:

• Escape Velocity has raised $61.74 million for its second fund to invest in DePIN and other crypto projects, attracting top investors like Marc Andreessen and Cendana.
• The firm focuses on decentralized physical networks that offer real-world services, including Wi-Fi, solar energy, mapping, drones, and cell networks.

Key Facts:

• The first fund, launched in 2022, raised $20 million despite a challenging crypto market, with backing from major investors like Andreessen Horowitz and Multicoin.
• DePIN projects use tokens to reward users who support and maintain decentralized networks, incentivizing community participation and growth.

Background:

Escape Velocity, a new venture capital firm, has raised $61.74 million for its second fund to support founders creating decentralized physical networks (DePIN) and other crypto projects. The fund closed in December, drawing investments from marquee names including Marc Andreessen and fintech investor Micky Malka of Ribbit Capital. Fund of funds Cendana contributed $15 million, the largest single check, according to Escape Velocity cofounder Mahesh Ramakrishnan.

Even though Bitcoin hasn’t changed much in early 2026 and some crypto areas are slowing down, Escape Velocity is still confident in DePIN projects. DePIN networks use decentralization to offer peer-to-peer services for Wi-Fi, cell networks, mapping, drones, and solar energy. Users who support these networks are rewarded with tokens.

Ramakrishnan explained that crypto investing goes through cycles of optimism and pessimism. He added that while many projects have launched tokens based on hype, Escape Velocity focuses on backing ideas that combine innovation with real, usable infrastructure.

Ramakrishnan and his cofounder, Salvador Gala, who both started as interns at Goldman Sachs, have strong backgrounds in finance and venture capital. Gala worked at Ribbit Capital, which has invested in companies like Robinhood, Revolut, and Coinbase. Ramakrishnan worked at Apollo Global Management. In 2022, they launched their first fund and raised $20 million with support from big investors like Andreessen Horowitz and Multicoin, despite a tough crypto market.

Since then, the firm has invested in several DePIN startups, including solar energy innovators Daylight and Glow. Though the fund has not yet returned significant capital to investors, the early traction and strong network connections allowed Escape Velocity to nearly triple the size of its initial fund for this second round.

Graham Pingree, partner at Cendana, said, “We felt they had a real pole position to see some of the best founders and projects being built in the space.” With a focus on credible, infrastructure-driven crypto projects, Escape Velocity is positioning itself at the forefront of the next wave of decentralized innovation.