The Entry into Force of the MiCA Regulation Opens New Opportunities for Venture Capital Funds
The entry into force of the MiCA (Markets in Crypto-Assets) Regulation in the European Union is generating concrete implications for venture capital funds: for the first time, there is a clear legal framework under which investments in tokens as a corporate financing instrument are possible. In this context, the venture capital fund Tritemius Fund I, FCRE is structuring its investment strategy to include the possibility of allocating a portion of its capital to tokens issued to finance business projects.
The fund, advised by Tritemius Ventures, is established as a European Venture Capital Fund (FCRE), a regulated entity at the EU level that allows investments in early-stage tech startups, particularly in sectors linked to the Web3, blockchain, and digital asset ecosystems.
According to European regulations, such funds must allocate at least 70% of their capital to traditional investments, such as equity stakes in startups or financial instruments linked to them. The remaining 30% may be invested in other assets, provided risk management, liquidity, and valuation standards set by the regulation are respected.
The Comisión Nacional del Mercado de Valores (CNMV) has indicated to Tritemius that there is no legal impediment for this portion of the capital to be invested in alternative financing instruments, such as tokens issued specifically to fund business projects, as long as they fall within the MiCA regulatory framework, which governs the token market in the European Union. This framework recognizes that token offerings can streamline capital-raising processes and provide an innovative financing channel for companies, especially tech startups and SMEs.
According to Luis Pastor, CEO and co-founder of Tritemius Capital, the market evolution is creating new opportunities to combine venture capital and blockchain technology:
"Tokens represent an evolution in tech financing: they allow direct investment in the growth of ecosystems and protocols, going beyond the traditional startup model. This tool expands the reach of venture capital toward more open, liquid, and decentralized business models."
The use of tokens as an investment instrument within regulated funds must, in any case, comply with European regulatory requirements. These include preparing a white paper detailing the characteristics of the issuance and the custody of the assets by MiCA-authorized providers.
Venture Capital and Blockchain: A Hybrid Investment Model
Tritemius Fund I, FCRE is a fund specialized in investing in tech startups in the Web3 ecosystem, with a total size of €21 million and average investment tickets around €500,000, ranging from pre-seed to Series A stages. The fund seeks to identify companies developing technologies in areas such as:
In addition to financing, the advisory team supports startups with strategic mentorship, access to international networks, and assistance in their global expansion.
For Tritemius, the combination of traditional venture capital and new digital financing infrastructures represents one of the major transformations occurring in the European tech ecosystem.
"European regulation is starting to bring clarity to a sector that has operated in a gray area for years. As the regulatory framework consolidates, we will see venture capital and tokenization naturally coexist in the financing of tech startups," highlights Luis Pastor, CEO and co-founder.
About Tritemius Capital
Tritemius Capital is a Spanish investment and project creation firm focused on emerging technologies, with a specialization in digital assets and the Web3 ecosystem. Its activity combines venture capital, venture building, and strategic analysis of digital assets to drive the adoption of new technological infrastructures and connect the European ecosystem with Latin America and other international markets.
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