With a focus on crypto, Blockchain Capital has secured $580 million for two new funds, marking one of the largest fundraises for the asset class in 2023 and a record for the 10-year-old venture firm.
The firm, which manages $2 billion in assets, plans to invest the new capital in crypto startups that operate in fields such as decentralized finance, gaming and infrastructure, according to general partner Kinjal Shah, who spoke to Bloomberg News.
The funds are split into two categories: Fund VI, which targets new and early-stage ventures, and the Opportunity Fund, which backs later-stage companies.
Blockchain Capital said that $380 million will go to Fund VI and $200 million will go to the Opportunity Fund.
Among Blockchain Capital’s backers are Visa Inc., PayPal Holdings Inc. and the Teacher Retirement System of Texas.
