1. BITBILIHome
  2. Article

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

• 160 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

  • A16z introduces “Cicada”,: An Ethereum library enabling anonymous voting

    TL;DR Breakdown Andreessen Horowitz, also known as A16z, a venture capital firm, has released a Solidity library that can be used for anonymous voting on Ethereum called “Cicada.” Cicada uses time-lock puzzles, a sort of encryption that lets users encrypt secret values that can only be decoded after a certain amount of time. According to the A16z post, Cicada uses these homomorphic puzzles, allowing votes to be counted even if users go offline. Andreessen Horowitz unveils “Cicada,” a library that enables untraceable voting on Ethereum. An anonymous voting Solidity library for Ethereum has been made available by venture capital firm Andreessen Horowitz, popularly known as A16z. The library, under the name of “Cicada,” keeps polling place choices a secret until after the polls close.  Anonymous voting on Ethereum with A16z’s “Cicada” library According to a blog post by A16z engineer Michael Zhu on May 24, it can also render the voter’s identity eternally unknowable when paired with zero-knowledge group membership systems like Semaphore. According to Zhu, Cicada uses time-lock puzzles, a cryptography that enables users to encrypt personal values that…

    Article 2023年5月30日

  • Lawsuit: Evan Singh Luthra seeks $16,000,000 that was stolen by Bitget

    Description Evan Luthra, the renowned blockchain influencer, has finally had enough of Bitget’s alleged charades and backdoor games. The 28-year-old who was recently featured in Forbes’ 30 Under 30, has taken a stand against what he perceives to be a massive act of fraud and theft, through a colossal lawsuit of $16 million. So, let’s unpack. … Read more Evan Luthra, the renowned blockchain influencer, has finally had enough of Bitget’s alleged charades and backdoor games. The 28-year-old who was recently featured in Forbes’ 30 Under 30, has taken a stand against what he perceives to be a massive act of fraud and theft, through a colossal lawsuit of $16 million. So, let’s unpack. Contents hide 1 Bitget’s betrayal: More than just numbers 2 A scandal bigger than you think: Understanding the $16m lawsuit 2.1 Count One: Theft of Funds 2.2 Count Two: Defamation and Lies 2.3 Count Three: Manipulation of REELT and Market Fraud 2.4 Count Four: Regulatory Violations 3 Luthra takes a stand Bitget’s betrayal: More than just numbers It’s not just about the money for Evan. It’s…

    Article 2023年8月1日

  • De-dollarization will be a priority talk at BRICS meeting

    TL;DR Breakdown The upcoming BRICS summit in Johannesburg, South Africa, will discuss de-dollarization, a move away from the U.S. dollar in global trade. The Brazilian President, Luiz Inacio Lula da Silva, supports the use of national currencies and a potential BRICS common currency, like the euro. The BRICS bank is seen as an alternative financial institution, reducing dependency on Western-based financial mechanisms. Description As the world watches the shifting landscape of international finance, a crucial conversation is looming on the horizon. At the forefront of this dialogue is the forthcoming BRICS summit scheduled to take place in Johannesburg, South Africa, from August 22-24. This coalition, composed of Brazil, Russia, India, China, and South Africa, is predicted to place … Read more As the world watches the shifting landscape of international finance, a crucial conversation is looming on the horizon. At the forefront of this dialogue is the forthcoming BRICS summit scheduled to take place in Johannesburg, South Africa, from August 22-24. This coalition, composed of Brazil, Russia, India, China, and South Africa, is predicted to place de-dollarization high on its…

    Article 2023年6月27日

  • This is what Elon Musk is trying to build with X (Twitter)

    TL;DR Breakdown Elon Musk aims to evolve Twitter into a comprehensive communications and financial transactions platform named ‘X’. Musk’s vision for X is influenced by his first venture, X.com, a comprehensive financial services platform. CEO Linda Yaccarino supports Musk’s strategy to include banking and payment functionalities in X. Description Twitter’s famous blue-bird logo has flown the coop, replaced with an unexpected twist on the platform’s brand identity. Elon Musk, the innovative billionaire, is not merely shifting Twitter’s identity, but propelling it towards a brave new future. Musk envisions an everything app, fondly named ‘X’, morphing Twitter into a comprehensive communications and financial transactions platform. … Read more Twitter’s famous blue-bird logo has flown the coop, replaced with an unexpected twist on the platform’s brand identity. Elon Musk, the innovative billionaire, is not merely shifting Twitter’s identity, but propelling it towards a brave new future. Musk envisions an everything app, fondly named ‘X’, morphing Twitter into a comprehensive communications and financial transactions platform. From Twitter to X: A total transformation Laying aside the simplicity of 140-character tweets, Musk’s newly imagined X…

    Article 2023年7月26日

  • Binance makes return into Japan under a new subsidiary

    TL;DR Breakdown Binance has returned to Japan under a new subsidiary. The company continues its expansion strategy through acquisitions. After an absence of five years, cryptocurrency exchange Binance is making a comeback in the Japanese market. The company has initiated the process of establishing a new subsidiary that will operate under full regulation in the country. This development follows the exchange’s acquisition of Sakura Exchange Bitcoin (SEBC), a regulated cryptocurrency exchange, in November 2022. Binance sets up new regulated subsidiary As part of the deal, SEBC will cease its current services by May 31 and rebrand itself as Binance Japan in the coming weeks. Users who are currently utilizing the company’s global platform in Japan will be required to register with the new entity. The migration process is scheduled to begin after August 1, 2023, and will involve a new identity verification process (KYC) to comply with local regulatory requirements. In terms of user funds, any remaining balances on the SEBC exchange will be automatically converted to Japanese yen and transferred to users’ bank accounts starting in June, as previously…

    Article 2023年5月30日
TOP