San Francisco: In an unexpected development during a market slump, the San Francisco-based cryptocurrency giant, Blockchain Capital, which holds over $2 billion in assets, has successfully raised a substantial $580 million. This considerable injection of funds is allocated for two upcoming funds. To delve into the details, the majority of the fund, amounting to $380 million, is channeled into the company’s sixth early-stage fund, which is focusing on budding companies and protocols in their initial stages. The remaining $200 million is designated for the opportunities fund, targeting investments in more developed stages, specifically from Series B onwards.
What stands out in Blockchain Capital’s funding environment is the dominant involvement of traditional institutional sponsors. This diverse group includes university endowments, U.S. pension plans, sovereign wealth funds, private foundations, and major financial institutions. Jason Di Piazza, the key figure leading Capital Formation at the firm, provided insights into this diverse group of investors. Besides the traditional institutional heavyweights, the company is supported by pioneering partners who are leaders in their respective fields. “These partnerships go beyond mere financial contributions. They serve as conduits for amplified growth paths and strengthening competitive positions for those who benefit from our funds,” Di Piazza explained.
A look back shows global payment leaders, Visa and PayPal, partnering with Blockchain Capital for its fifth initial stage fund in 2021. However, their participation in the newly established funds remains uncertain, according to insider information.
Highlighting some recent ventures of Blockchain Capital, it notably invested a significant $115 million in Series C capital into Worldcoin’s creator, Tools for Humanity. Following closely is a substantial $40 million Series A investment in the cryptocurrency platform provider, RISC Zero.
If you are interested in a more comprehensive insight into this investment journey, Dive in deeper at https://www.consulting24.co/post/blockchain-capital-secures-580m-investment-for-dual-funds-amid-market-downturn