San Francisco-based venture capital firm Blockchain Capital has raised $580 million for two new investment funds.
We’re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund.
Together, they total $580 million and serve to reinforce our commitment to leading the global transition to decentralized, blockchain-based systems. ↓https://t.co/Vr2uYnGlF7
— Blockchain Capital (@blockchaincap) September 18, 2023
The structures are aimed at infrastructure, consumer and social projects, games and DeFi protocols. Payments giant Visa is among those re-investing.
“Over the past 20 months, we have invested more capital in the next generation of innovators than at any time in our history. The reason is simple: Today’s market offers unprecedented opportunity, driven by an influx of highly skilled founders developing a wide range of innovative technologies,” the statement said.
In June 2021, Blockchain Capital raised $300 million for Fund V. Visa and PayPal were limited partners.
The firm manages more than $2 billion in assets. Its portfolio includes Coinbase, Kraken, Anchorage, OpenSea, Aave, Worldcoin and others.
Let us remind you that based on the results of investment rounds in August, the volume of funds raised by crypto firms increased by 39.8% compared to July.
One of the landmark deals of the last month of summer, along with the Ramp round ($300 million), was the raising of $100 million by crypto-custodian BitGo at a valuation of $1.75 billion.
The third place in terms of the volume of funds received was investments in the ZetaChain blockchain platform ($27 million).
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