Crypto VC Firm Blockchain Capital Raises $580M for 2 New Funds

8 months ago 184

Blockchain Capital, a crypto-focused concern firm, has defied the depressed marketplace to rise $580 cardinal for 2 caller funds.

The backing is divided betwixt $380 cardinal for its sixth early-stage fund, which volition absorption connected newer companies and protocols successful pre-seed and Series A rounds, and $200 cardinal for its opportunities fund, which volition people late-stage investments from Series B onward.

The magnitude raised suggests determination remains an appetite for investment, contempt the comparatively subdued authorities of the integer plus marketplace for overmuch of the past year. After the crypto marketplace declined passim overmuch of 2022, coming to a caput with the collapse of FTX successful November, integer assets person struggled to flight a narrow trading range successful caller months aft a robust commencement to 2023. Bitcoin (BTC), for example, has spent astir the full past six months locked successful the $25,000-$30,000 range.

Most of Blockchain Capital's constricted partners are accepted organization investors, including assemblage endowments, backstage foundations, fiscal institutions, sovereign wealthiness funds and U.S. pension plans, the firm's caput of superior enactment Jason Di Piazza told CoinDesk successful an emailed statement.

"Additionally, we person non-traditional, strategical investors who are class leaders wrong their circumstantial sectors," Di Piazza said. "While these investors are mostly much tactical successful their money commitments, the semipermanent quality of our funds pb to semipermanent partnerships that tin assistance accelerate maturation opportunities and amended competitory positioning for our fund's companies and protocols."

These see outgo giants Visa and PayPal who joined Blockchain Capital's 5th early-stage money successful 2021. They person yet to perpetrate to either of the caller ones, the steadfast told CoinDesk.

Edited by Sheldon Reback.

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