As of August, crypto VC firms have raised more than $2.20 billion in new capital through closed-end funds this year, according to PitchBook data. In the past few weeks alone, at least six VC firms have collectively raised more than $500 million. These include ParaFi Capital's $120 million fund, Borderless Capital's $100 million fund, Hack VC's $77 million fund, and Robot Ventures' $75 million fund. Additionally, several funds are actively seeking new capital this year, and according to Bloomberg, Dragonfly Capital is looking to raise $500 million for its new fund, having raised half that amount so far.