Blockchain Capital, a digital asset/crypto focused venture firm, recently completed the largest fund raise in its ten-year history. The firm announced in a press release dubbed “Doubling Up While Doubling Down,” that it hauled in $580 million from investors. It plans to deploy the capital in two funds: “$380 million will be dedicated to the early-stage fund and $200 million will be used for the Opportunity Fund,” focused on later stage investments.
In announcing the raise, Blockchain Capital noted that digital assets are in a “bear market," which they view as an opportunity. The firm explained that “like the growth of the internet – slowly, then all at once – the rhythm of innovation follows its own beat, often thriving in face of tough economic times.”
Blockchain Capital General Partners Aleks and Spencer joined Blockworks' Empire podcast to discuss "their fund thesis and overall managing strategy, the time horizon for mass adoption, deploying capital in U.S. based projects, and existing discounts in later stage start-ups.” Link below.
Point of Interest: The raise included investment from Paypal Holdings Inc. and a multinational payment card services corporation, showing continued interest from traditional financial firms and mainstream players.