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

Ronaldo Marquez by Ronaldo Marquez
1 week ago
in Cryptocurrency Market News
Reading Time: 3 mins read

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

The firm’s general partner, Spencer Bogart, confirmed the news to TechCrunch, stating that the funds consist of a sixth early-stage fund and the firm’s first “opportunity fund.” 

Approximately two-thirds of the $580 million will be allocated to the early-stage fund, while the remaining one-third will be dedicated to the opportunity fund.

Related Reading: End Of The Road? Why A Bitcoin Price Surge to $28,500 Could Lead To A Crash

Blockchain Capital Raise For Two New Crypto Funds

Per the report, the sixth early-stage fund, valued at $380 million, will primarily focus on investing in newer companies and protocols during pre-seed and Series A funding rounds. On this matter, Spencer Bogart claimed: 

It’s doing more of what we’ve been doing for the past decade. This is our bread and butter, and we wanted to stay aligned with LPs [and] think about prior fund sizes, but still grow a bit.

On the other hand, the $200 million opportunity fund will target late-stage investments starting from Series B and onward. This strategic allocation reflects the firm’s intention to continue supporting early-stage projects while also capitalizing on promising opportunities in the later stages of development.

The funds will be deployed across six sectors, namely decentralized finance, centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social. 

According to TechCrunch, by concentrating on these sectors, Blockchain Capital aims to remain at the “forefront” of innovation within the blockchain ecosystem.

Blockchain Capital’s investor base consists of two categories: strategic limited partners (LPs) such as Visa and PayPal, and long-term committed capital from entities like university endowments, family offices, and sovereign wealth funds. Bogart further stated:

The strategic partners like Visa and PayPal are more limited because it’s more active. It’s not just an LP investment; they don’t care about returns as much, but want us to be the eyes and ears on the ground for who else they should work with.

Per the report, the opportunity fund will be utilized to invest in projects that the firm may have missed during its early funding rounds. This allows Blockchain Capital to participate in the growth and development of these projects, even if it had not been involved from the outset.

Bogart emphasized that Blockchain Capital now takes a leading role in “most” of the funding rounds it participates in, committing over 50% of the funding while also influencing pricing, writing the term sheet, and securing board seats. 

Related Reading: This Bitcoin Metric Continues To Retest Bear-Bull Junction, Will A Break Happen?

Looking ahead, Blockchain Capital intends to continue investing in blockchain-based startups with a long-term vision, staying true to its core focus over the past decade. The firm remains committed to its niche within the blockchain industry and has no plans to diversify into other sectors or investment strategies.

Blockchain Capital
The total crypto market cap retracing to the $1.045 trillion line on the daily chart after reaching as high as $1.067 trillion on Monday. Source: TOTAL on TradingView.com

Featured image from iStock, chart from TradingView.com 

Tags: blockchainBlockchain Capitalblockchain technologycryptocryptocurrency
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Ronaldo Marquez

Ronaldo Marquez

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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