Crypto VC Firm Blockchain Capital Secures $580M For Expansion Of Investment Funds


19 Sep 2023 2:00 AM

Blockchain Capital, a venture capital company founded in 2013, has successfully closed two new funds, raising a total of $580 million. ...

  • Blockchain Capital has closed two new funds, raising a total of $580 million.
  • The funds consist of a sixth early-stage fund and the firm's first "opportunity fund."
  • Approximately two-thirds of the funds will be allocated to the early-stage fund, while one-third will be dedicated to the opportunity fund.
  • The early-stage fund will focus on investing in newer companies and protocols during pre-seed and Series A funding rounds.
  • The opportunity fund will target late-stage investments starting from Series B and onward.
  • The funds will be deployed across six sectors: decentralized finance, centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social.
  • Blockchain Capital's investor base includes strategic limited partners such as Visa and PayPal, as well as long-term committed capital from entities like university endowments, family offices, and sovereign wealth funds.
  • The opportunity fund will be utilized to invest in projects that the firm may have missed during its early funding rounds.
  • Blockchain Capital takes a leading role in "most" of the funding rounds it participates in, committing over 50% of the funding and influencing pricing, term sheets, and securing board seats.
  • The firm plans to continue investing in blockchain-based startups with a long-term vision and has no plans to diversify into other sectors or investment strategies.

The overall sentiment of the article is positive, highlighting the successful closing of two new funds by Blockchain Capital and the firm's commitment to investing in blockchain-based startups.

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You May Ask

How much money did Blockchain Capital raise with its two new funds?What is the allocation of funds between the early-stage fund and the opportunity fund?Which sectors will the funds be deployed across?Who are some of Blockchain Capital's strategic limited partners?What role does Blockchain Capital play in the funding rounds it participates in?

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