Blockchain Capital, a crypto investment firm based in San Fransico with over $2 billion under management, has successfully raised $580 million for its two forthcoming funds. The allocation is divided, with $380 million directed towards the firm's sixth early-stage fund, concentrating on budding companies and protocols during their initial stages. Meanwhile, $200 million has been allocated for its opportunities fund, which aims at later-stage investments from Series B and beyond.
A notable feature of Blockchain Capital's investment landscape is the dominance of traditional institutional backers. These comprise university endowments, U.S. pension plans, sovereign wealth funds, private foundations, and major financial institutions. Elaborating on this diversified investor base, Jason Di Piazza, the firm's Chief of Capital
Formation, highlighted that apart from the traditional institutional players, they also have strategic partners who are pioneers in their respective domains. "These alliances not only offer financial commitments but also pave the way for expansive growth avenues and enhanced competitive stances for the beneficiaries of our funds," Di Piazza remarked.
It's worth noting that payment powerhouses Visa and PayPal had previously collaborated with Blockchain Capital for its fifth early-stage fund in 2021. However, their participation in the new funds remains unconfirmed, as per sources from the firm.
Recent ventures led by Blockchain Capital include a substantial $115 million Series C investment in Worldcoin's developer, Tools for Humanity, and a $40 million Series A funding for the crypto infrastructure entity, RISC Zero.
For a detailed overview, refer to the official announcement on Coindesk: Coindesk Announcement.