Crypto venture capital giant Multicoin Capital isn’t slowing down in the face of the market slump with its latest fund, the $430 million Venture Fund III.

The fund will provide capital for early-stage and later-stage projects focused on data-aggregating decentralized autonomous organizations (DAOs), open finance, Web3 infrastructure and consumer social opportunities, among other initiatives. Early-stage projects can expect to receive between $500,000 and $25 million from a combination of funds originating from Venture Fund III and Multicoin’s evergreen liquid fund, which has assets in the single-digit billions. Later-stage projects are eligible for up to $100 million in capital from a combination of the same two funds.

Multicoin Capital Managing Partner Kyle Samani says those numbers aren’t set in stone, however, and some projects may be eligible to receive greater sums of capital from the firm. “We don't have a strict rule like ‘$25 million max’ for this size deal,” Samani told CoinDesk in an interview last week. “We don't think in those terms.”

Multicoin Capital, which was founded in 2017, has historically funded tech and infrastructure investments. For example, the firm led a $3.5 million seed-funding round in 2019 with Intel Capital for blockchain data startup dfuse’s line of products geared toward demystifying blockchain data.

Now, however, the firm is looking to increase its investments in consumer-facing projects. “We are spending an increasing percentage of our time on things that directly face consumers and that are poised to reshape massive consumer-facing markets,” the press release noted.

Investing in a Bear Market

Although the recent market downturn has kneecapped a wide range of investors, Multicoin’s leadership plans to continue putting its money in a wide range of projects.

“We are continuing to invest at a fairly rapid pace, issuing, on average, probably one term sheet per week or more for a long time like over a year,” said Samani. “That is still true today and I do not see that changing in the foreseeable future. We invest across market cycles, we find assets that we think are very exciting and we buy them and then hold them forever.”

Legal Issues

Multicoin’s Venture Fund III announcement comes just days after the investment firm was named in a class-action lawsuit accusing Multicoin and other key players in the Solana ecosystem of illegally profiting from SOL, which the suit alleges is an unregistered security.

Read More: ‘I Don't Follow Trends’: Multicoin’s Kyle Samani on How to Make It in Crypto