Pluto Investments is a blockchain and Web3 investment firm that has been actively involved in fundraising activities and making strategic investments. Originally founded as an investment trust focused on non-fungible tokens (NFTs), Pluto has since expanded its investment scope across the digital asset sector. In recent years, Pluto has emerged as an influential investor in the crypto space, participating in major funding rounds of promising blockchain startups. This article will provide an overview of Pluto’s key fundraising and investment initiatives.
Pluto’s $20 Million Seed Funding Round in 2019
In 2019, Pluto Investments raised $20 million in an initial seed funding round led by several venture capital firms. This seed financing allowed Pluto to begin building out its investment team and make its first purchases of rare NFTs and crypto collectibles. With this capital base, Pluto invested in digital art NFT projects like CryptoPunks and CryptoKitties that helped establish Pluto’s credibility in the nascent NFT market.
Pluto’s $150 Million Series A Raise in 2021
In early 2021, Pluto Investments closed a $150 million Series A equity financing round led by top-tier VC investors such as Andreessen Horowitz and Polychain Capital. This large Series A round was a validation of Pluto’s investment thesis in NFTs and reflected growing mainstream interest in digital collectibles. Pluto used the funds to continue acquiring rare NFTs, invest in NFT infrastructure projects, and hire additional investment professionals.
Pluto Investing $50 Million in Sorare’s $680 Million Raise
In September 2021, Pluto participated in French NFT-based fantasy soccer startup Sorare’s record $680 million Series B funding round. Pluto invested around $50 million as part of this mammoth raise, which valued Sorare at $4.3 billion. Sorare operates an Ethereum-based fantasy soccer game that uses officially licensed NFT digital cards. Pluto saw this as a prime opportunity to gain exposure to one of the hottest NFT use cases – sports fan engagement.
Leading Metaplex Protocol’s $46 Million Funding Round
In November 2021, Pluto led the $46 million Series A investment round of Metaplex, the developer of an open protocol that powers NFT minting and auctions on the Solana blockchain. Pluto views Metaplex as a key infrastructure player in the Solana NFT ecosystem and led the round alongside other top Solana-focused VCs. This investment expands Pluto’s NFT exposure beyond Ethereum to other leading smart contract networks.
Investing in Moonbirds NFT Launch
In April 2022, Pluto was part of the small group of investors that funded the initial launch of the Moonbirds NFT collection by Proof Collective. Each Moonbirds NFT sold for 1.5 ETH upon the launch, but quickly appreciated in value due to the project’s art and community. Pluto likely holds a sizable portion of the 10,000 Moonbirds in its NFT fund and has already seen the value of its investment multiply.
Pluto Investments has demonstrated strong conviction in the long-term potential of NFTs and blockchain technology through its fundraising activities and strategic investments. Pluto has systematically built up its war chest, assembled an expert investment team, and taken early stakes in promising projects across multiple blockchain ecosystems. Given Pluto’s influence and track record, it is well-positioned to continue making prescient investments in the digital asset space.