A major investment player just shifted gears. After years of aggressive dealmaking, one prominent venture firm is taking a more measured approach—launching a fresh $2.2 billion fund with strings attached. The move signals a broader recalibration across the venture landscape, where firms are prioritizing sustainability over speed. Industry watchers note this cautious pivot reflects lessons learned from the 2021 funding frenzy, when valuations soared and discipline faded. Now, LP commitments are coming with stricter terms, forcing managers to rethink deployment strategies. For crypto and Web3 startups, this could mean tougher due diligence but potentially more reliable backing from institutional capital that's in it for the long haul.