The Swiss advisor makes direct investments in crypto projects and also backs early-stage crypto investment firms. : L1 Digital AG (L1D), a Zurich-based investment advisor focused on digital assets that has $400 million in assets under management, has raised $152 million for its second venture capital fund, the firm exclusively told CoinDesk. L1D will invest 70% of the funds directly into crypto startups and the other 30% into early-stage crypto-focused investment firms. L1D currently backs notable industry investors Multicoin Capital, DeFiance Capital, Castle Island Ventures and 1kx.