The Web3-focused fund, founded by a Wall Street veteran, is backed by crypto heavyweights Dragonfly and Animoca. : Shima Capital has raised $200 million for its first venture capital fund to support early-stage Web3 startups. The fund debuted on the same day as a $300 million purse from CoinFund, dual signs that investors remain confident during the crypto bear market. “There's been crypto funds that have grown and ballooned in size to billions of dollars of assets under management," founder and managing partner Yida Gao told CoinDesk in an interview.