Blockchain Capital, one of the oldest venture capital firms focused on crypto technology, has secured US$300 million in funding with high-profile partners PayPal and Visa.
Blockchain Capital announced the close of Blockchain Capital V, LP, a fund heavily oversubscribed at its US$300 million hard cap, which saw the participation of many strategic investors, pension funds and major university endowments.
Payment Giants Investing in Crypto Companies
Blockchain Capital is a leading venture firm in the crypto industry and has previously worked with several high-profile crypto companies such as Ripple, Kraken, Coinbase, and Anchorage. On June 21, the firm -together with Morgan Stanley Tactical Value – led a US$48 million Series B funding round for Securitize, a Coinbase-backed asset tokenisation platform.
We are incredibly honoured to welcome a world-class group of investors into Fund V who appreciate the value of a firm dedicated to a single industry. As founders ourselves, we know how hard it is to build companies, protocols and, indeed, a whole new industry.
Blockchain Capital co-founder and managing partner Bart Stephens
The Fund V will be focused on DeFi (Decentralised) and NFTs (Non-Fungible Tokens) startups while avoiding the assets themselves. The firm has the decentralised NFT marketplace OpenSea as part of its portfolio.
PayPal’s Head of Crypto, Jose Fernandez da Ponte, said that investing in Blockchain Capital’s new fund allows it to connect with the entrepreneurs leading the change for the DeFi world:
PayPal is committed to fostering an ecosystem of companies making digital currencies more accessible, useful and secure. Investing in Blockchain Capital’s new fund allows us to engage with the entrepreneurs driving the future of the decentralised economy and the new wave of financial services.
Jose Fernandez da Ponte
The firm said PayPal, Visa and other Fund V investors will take part in its strategic partnership program.
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