Odaily News German investment firm Lennertz & Co. is seeking to raise $165 million for its third crypto fund. Oksana Tiedt, Lennertz's head of fund investments, said in an interview that the fund has completed the first round, but declined to disclose the specific figure. Founded in 2015, Lennertz is a multi-family office that invests in different asset classes, including private equity and traditional venture capital. The company began betting on the blockchain field around 2016, investing privately in a fund before launching a $35 million fund of funds in 2020 and launching a second $65 million fund in 2022. As a fund of funds, Lennertz does not invest directly in portfolio companies or token transactions, but invests in other companies, including well-known crypto venture capital institutions such as Multicoin, Polychain and Hack VC. Its second fund focuses on generalist funds with crypto strategies, including Bain Capital, Lightspeed and Andreessen Horowitz. (Fortune)