Capital funds are money raised or set aside to pay for long-term investment, such as buildings, equipment, technology or the growth of a business, rather than for day-to-day running costs. A company's capital funds typically come from owners' equity financing, long-term borrowing and retained earnings, and they are spent on capital expenditure that will be recorded as fixed assets. In public-sector accounting, a capital projects fund is a separate account used to track money for major construction or purchases. In crypto, the phrase usually refers to the money a project or venture firm raises from investors, through a token sale or private round, to build and grow a network. Also see Capital Budgeting.