1. BITBILIHome
  2. Article

Blockchain Capital raises $580 million for a new era in crypto investments

• 227 views

TL;DR Breakdown

  • Blockchain Capital has closed two new funds totaling $580 million, focusing on sectors like decentralized finance, centralized infrastructure, and gaming.
  • The venture capital firm’s Limited Partners (LPs) include strategic players like Visa and PayPal and long-term committed capital from university endowments and sovereign wealth funds.
  • Despite the significant new funding, Blockchain Capital’s general partner, Spencer Bogart, stated that the firm has no plans to diversify into other sectors like AI or to continually increase fund sizes.

Description

Despite the ongoing crypto bear market, Blockchain Capital has successfully closed two new venture funds amounting to $580 million, marking a significant milestone in the venture capital landscape for blockchain and cryptocurrency. Blockchain Capital’s general partner, Spencer Bogart, revealed that the two funds would be allocated in a two-thirds to one-third ratio. The larger portion … Read more

Despite the ongoing crypto bear market, Blockchain Capital has successfully closed two new venture funds amounting to $580 million, marking a significant milestone in the venture capital landscape for blockchain and cryptocurrency.

Blockchain Capital’s general partner, Spencer Bogart, revealed that the two funds would be allocated in a two-thirds to one-third ratio. The larger portion is designated for the firm’s sixth early-stage fund, while the remaining amount will be channeled into its first-ever “opportunity fund.” The early-stage fund aims to invest in six key sectors: decentralized finance (DeFi), centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social technologies. The opportunity fund, on the other hand, will target projects that the firm might have overlooked during their seed or Series A funding rounds.

Speaking to TechCrunch, Bogart emphasized that the firm had no plans to deviate from its core focus. “We have no intent to expand and become an AI fund or hedge fund and trade tokens,” he stated. He also noted that a $2 billion fund would be too large for the current investment climate, citing difficulties in finding high-conviction investment opportunities at that scale.

Strategic partnerships and long-term vision

The firm’s limited partners (LPs) are categorized into two groups: strategic LPs, such as Visa and PayPal, and long-term committed capital from university endowments, family offices, and sovereign wealth funds. Strategic partners are particularly valuable as they serve as the firm’s “eyes and ears on the ground,” helping to identify potential collaborations.

Blockchain Capital has also shifted its investment strategy to lead “most” of the funding rounds it participates in. This change allows the firm to commit over 50% of the funding in these rounds, thereby gaining a board seat and having a say in financing and governance.

The firm plans to deploy the capital over a period of two to five years, depending on the opportunities that arise. This flexible timeline aligns with the firm’s long-term vision of investing in blockchain-based startups that aim to democratize and distribute the future of digital and financial lives.

In summary, Blockchain Capital’s latest funding round not only signifies the firm’s confidence in the blockchain and cryptocurrency sectors but also underscores its commitment to long-term, strategic investments. With a focus on multiple sectors and a flexible investment timeline, the firm is well-positioned to navigate the complexities of the crypto industry. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Blockchain Capital raises $580 million for a new era in crypto investments

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月19日 20:55
Next 2023年9月19日 23:57

Related articles

  • U.S. national debt skyrockets to $33 trillion: Report 

    TL;DR Breakdown The U.S. national debt reached a record high of $33.04 trillion, according to Treasury Department data, raising concerns amid a looming government shutdown at the end of September. The cost of servicing the debt is expected to triple by 2032 due to rising interest rates, potentially surpassing the U.S.’s spending on major programs like Social Security and Medicare by 2053. Political divisions persist as House Republicans propose a short-term funding plan, which has already encountered intra-party opposition, increasing the risk of a fiscal crisis. Description According to data released by the Treasury Department, the U.S. national debt has reached an all-time high of $33 trillion. This alarming figure comes at a time when Congress is scrambling to prevent a government shutdown by the end of September, adding another layer of complexity to the nation’s already precarious fiscal situation. The numbers … Read more According to data released by the Treasury Department, the U.S. national debt has reached an all-time high of $33 trillion. This alarming figure comes at a time when Congress is scrambling to prevent a government…

    Article 2023年9月20日

  • Japan unveils new Web3 promotion policies

    TL;DR Breakdown Japan has unveiled its new policies which will help the country further the promotion of the Web3 industry. The new policies will foster innovation and inclusivity. Description In a recent annual broad policy outline, Japan’s Prime Minister Fumio Kishida laid out the country’s commitment to enhancing user protection while simultaneously promoting the adoption of Web3 tokens and invigorating the content industry. The announcement was made during the WebX conference held in Tokyo, where the ruling Liberal Democratic Party exhibited its support for … Read more In a recent annual broad policy outline, Japan’s Prime Minister Fumio Kishida laid out the country’s commitment to enhancing user protection while simultaneously promoting the adoption of Web3 tokens and invigorating the content industry. The announcement was made during the WebX conference held in Tokyo, where the ruling Liberal Democratic Party exhibited its support for Web3 technologies and the potential they hold for the nation’s economic future. Japan’s PM reiterates commitment to developing the Web3 Industry Prime Minister Kishida emphasized that Web3 is a vital aspect of the evolving capitalist landscape. With a…

    Article 2023年7月26日

  • Coin Center and Blockchain Association join forces against Senate’s DeFi bill

    TL;DR Breakdown CANSEE bill faces heavy opposition from crypto advocacy groups, sparking intense DeFi debate. CoinCenter and Blockchain Association denounce CANSEE as “unconstitutional” and harmful to free expression. The proposed bill holds developers accountable for criminal activity, raising concerns about stifling innovation. Description The Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has drawn heavy condemnation from prominent crypto advocacy organizations, igniting a fierce debate over the future of decentralized finance (DeFi). Proposed by Senators Jack Reed (D-CT), Mark Warner (D-VA), Mike Rounds (R-KS), and Mitt Romney (R-UT) with bipartisan support, the measure seeks to impose strict controls … Read more The Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has drawn heavy condemnation from prominent crypto advocacy organizations, igniting a fierce debate over the future of decentralized finance (DeFi). Proposed by Senators Jack Reed (D-CT), Mark Warner (D-VA), Mike Rounds (R-KS), and Mitt Romney (R-UT) with bipartisan support, the measure seeks to impose strict controls on DeFi participants and platform operators. Leading the charge against the bill, CoinCenter, an influential crypto advocacy group, and its executive director, Jerry Brito,…

    Article 2023年7月21日

  • The New York Times Exposes Startling “Notes” Made by Sam Bankman-Fried’s Girlfriend

    TL;DR Breakdown The New York Times reveals Caroline Ellison’s personal notes, in which she expressed dissatisfaction and feeling overwhelmed with her role as CEO of Alameda Research months before the FTX collapse. The documents suggest that Ellison had full knowledge of the issues plaguing FTX, raising questions about her involvement in the fund mismanagement that resulted in significant losses for investors. Description In a startling turn of events, shocking details regarding Caroline Ellison, the CEO of crypto hedge fund Alameda Research, have emerged from documents accessed by The New York Times. These notes shed light on Ellison’s apparent foreknowledge of the impending collapse of crypto exchange FTX, which initiated Chapter 11 proceedings seven months ago. The collapse … Read more In a startling turn of events, shocking details regarding Caroline Ellison, the CEO of crypto hedge fund Alameda Research, have emerged from documents accessed by The New York Times. These notes shed light on Ellison’s apparent foreknowledge of the impending collapse of crypto exchange FTX, which initiated Chapter 11 proceedings seven months ago. The collapse had far-reaching consequences, affecting cryptocurrency…

    Article 2023年7月21日

  • NFT gas consumption decreases – What does this mean?

    TL;DR Breakdown Ethereum gas consumption by NFTs has significantly declined since 2021. Major NFT projects and marketplaces that once led in gas consumption have dropped sharply. Current gas consumption by leading NFT marketplaces accounts for roughly 1.85% of the entire Ethereum network. Description If you were navigating the Ethereum landscape two years ago, NFTs might have seemed to you like the fuel-hungry SUVs of the blockchain. Fast forward to today, and those very same NFT marketplaces are sipping gas like a hybrid economy car. This stark shift doesn’t just signify a change in numbers but mirrors a possible … Read more If you were navigating the Ethereum landscape two years ago, NFTs might have seemed to you like the fuel-hungry SUVs of the blockchain. Fast forward to today, and those very same NFT marketplaces are sipping gas like a hybrid economy car. This stark shift doesn’t just signify a change in numbers but mirrors a possible cultural and strategic transformation in the entire nonfungible token ecosystem. From market leaders to market leavers In the heyday of 2021, nonfungible tokens were…

    Article 2023年8月4日
TOP