Blockchain Capital has announced the successful closure of two new funds, raising a total of $580 million.
The latest funding round comprises the firm’s sixth early-stage and first opportunity funds, achieving the largest fundraiser in its ten-year history.
Blockchain Capital, a prominent venture capital group, announced the successful closing of two new funding pools, securing a record $580 million investment towards infrastructure, gaming, DeFi, and consumer and social technologies.
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
According to Spencer Bogart, a partner at the firm, $380 million out of the total funding is assigned to Blockchain Capital’s sixth early-stage fund, with the remainder allocated to the opportunity fund. This amount greatly exceeds the firm’s fifth early-stage fund, valued at $300 million in June 2021.
In the press release, Blockchain Capital acknowledged the volatile nature of the crypto market, stating that despite this, the firm remains committed to long-term investment, “over the past 20 months, we’ve invested more capital into the next generation of innovators than any other time in our history.”
Among the largest in cryptocurrency or blockchain history, these new funds highlight Blockchain Capital’s dedication to nurturing innovation, setting a new benchmark for the firm’s future investment ventures, reads the PR.
Blockchain Capital’s investment strategy in the past two years demonstrates its strong belief. The company has increased investments in infrastructure, gaming, DeFi (Decentralized Finance), as well as consumer and social sectors. However, BC emphasizes that its focus goes beyond specific sectors.
It aims to leverage blockchain technology to reshape the digital landscape, empower individuals, and redefine the social contract in the increasingly digital world.
BC also emphasized that its main aim is to empower individuals by providing them with control over their digital and financial lives through innovative blockchain applications and services. This vision influences the firm’s investment decisions and its active involvement as builders, advocates, and partners in the blockchain community.
The post Blockchain Capital Raises Massive $580 Million in New Funding Frenzy appeared first on CryptoPotato.
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