Blockchain Capital Raises $580 M For Two New Crypto Funds for DeFi Bets And Gaming

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Blockchain Capital

Blockchain Capital has consolidated its position as a key venture capital firm by its largest fundraiser to date. The crypto venture capital firm had previously invested in OpenSea, an NFT platform. The crypto-focused Blockchain Capital has raised over $580 M across the two funds. It is one of the largest raises for this class of assets in 2023 and also the largest for the venture firm in its decade-long history.

Blockchain Capital has an existing $2 B in assets already under management. The firm has stated that it will use the capital to back startup areas in the crypto industry. With this move, Blockchain Capital has reflected the growing confidence in the blockchain sector and the enormous potential for growth and innovation in the industry.

The firm has finally consolidated its place as a leader in the cryptocurrency space when it comes to venture capital. The firm has revealed that the money raised will be focused intensely on 6 major sectors in the blockchain world. It will allow the firm to continue with its main investment strategy and also capitalize on wasted opportunities.

Blockchain Capital Remains Committed To Long-Term And Focused Vision

Blockchain Capital time and again has demonstrated its obligation to a long-term and focused visualization in the changing blockchain technology sector through its leading funding rounds and strategic approach to the size of the funds deployed.

Spencer Bogart, the firm’s general partner, has said that the 2 funds would consist of the first opportunity fund of the firm and a 6th early-stage fund. Around 65% of the fund will go towards early-stage, and the remaining will go towards the opportunity fund. With this, Blockchain Capital will continue in its strategy of core investment while at the same time grabbing the missed changes in the crypto market.