According to Fortune, Lennertz, the German family office, announced that it would raise $165 million for its blockchain parent fund to further expand its investment in the field of encryption. Lennertz's portfolio includes well-known crypto venture capital companies, such as Multicoin, Polychain and Hack VC. They plan to invest in 8 to 10 blockchain venture capital funds in new funds, mainly focussing on the U.S. market. Despite the sharp fluctuations in the crypto market, Lennertz's first two funds still achieved an annual internal return of more than 35%, showing a strong return on investment.