Blockchain Capital Secures $580 Million Funding for Cryptocurrency Startups and DeFi
Blockchain Capital Secures $580 Million in Funding for Cryptocurrency Initiatives
Blockchain Capital, a venture capital firm based in San Francisco, has recently obtained $580 million in funding to invest in cryptocurrency startups and later-stage initiatives. The focus of this investment will be on decentralized finance, gaming, and blockchain infrastructure.
The newly acquired funds will be directed towards startups and innovative companies specializing in various cryptocurrency sectors. This includes popular decentralized finance (DeFi), cryptocurrency gaming, and the underlying infrastructure for these areas.
Details of the Funding
Blockchain Capital has secured this funding through two new funds. With its existing portfolio already managing $2 billion in assets, the firm expects further diversification of its investments. Fund VI will target emerging startups, while the Opportunity Fund will focus on more mature and later-stage ventures.
Blockchain Capital’s investment circles include well-known names such as Visa Inc., PayPal Inc., and the Teachers’ Retirement System of Texas. However, specific details regarding the fundraising remain undisclosed.
Blockchain Capital has made notable investments in the cryptocurrency scene in the past. These include Worldcoin, Kraken, and the NFT market giant OpenSea. Despite some turmoil in the NFT market, the firm remains optimistic and highlights broader applications for NFTs, such as embedding financial products or real estate transactions on the blockchain.
Shift in Interest
Due to regulatory challenges in the United States, companies in the cryptocurrency space are showing increased interest in expanding overseas. Silicon Valley Bank’s collapse earlier this year has also led US startups to diversify their banking associations. Additionally, regions like Europe and specific Asian sectors are emerging as new centers for cryptocurrency advancement.