Blockchain Capital Raises $580 Million for New Cryptocurrency Investment Fund – Here's the Latest
Blockchain Capital, a crypto-focused investment firm, has successfully raised $580 million for two new investments funds in infrastructure, gaming, DeFi, and consumer technologies.
The first, the sixth $380 million early-stage fund, will concentrate on newer companies and protocols in pre-seed and Series A rounds. This fund follows the firm's fifth early-stage fund, valued at $300 million and launched in June 2021.
The second, a $200 million opportunities fund, will target late-stage investments from Series B onward, providing access to companies with substantial prior funding.
The allocated funds will target six key sectors: decentralized finance, centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social technologies.
In a press release, Blockchain Capital stated:
"The end game is to elevate personal empowerment by granting individuals control over their digital and financial lives through innovative blockchain-enabled applications and services. This vision of a democratized and distributed future guides our passion and investment decisions."
Despite a relatively subdued digital asset market over the past year, this successful fundraising signals a sustained interest in investment. The crypto market faced challenges in 2022, culminating in the collapse of FTX in November.
Since then, digital assets have struggled to break free from a narrow trading range, particularly Bitcoin (BTC), which has remained between $25,000 and $30,000 for the past six months.
"Indeed, the crypto market's volatility these past 20 months revealed the hazards of short-term thinking, exposing many who misjudged this nascent technology," writes Blockchain Capital in the release, adding later that "over the
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