Blockchain Capital remains a major investor in the Distributed Ledger Technology (DLT) ecosystem. They have recently invested in several different kinds of blockchain related projects.
According to a press release, published on Monday (June 22, 2021), Blockchain Capital has closed funding for its Fund V LP. The capital raise reportedly drew participation from several high-profile backers including global payment giants Visa and PayPal. Capped at $300 million, Blockchain Capital’s latest fund was oversubscribed likely pointing to the continued appetite for DLT-related funding despite the current crypto market downturn. Apart from Visa and PayPal, university endowments, hedge funds, family offices, and pension funds also participated in the capital raise.
Bart Stephens, Co-founder and Managing Partner at Blockchain Capital commented on the closure of the fifth VC fund, stating:
“We are incredibly honored 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.”
Spokespersons for both Visa and PayPal said that, “their support for Blockchain Capital was part of efforts to boost innovation in digital finance”. As stated by, Jose Fernandez da Ponte, Vice President and General Manager of Blockchain, Cryptocurrency, and other digital assets at PayPal saying:
“Investing in Blockchain Capital’s new fund allows us to engage with the entrepreneurs driving the future of the decentralized economy and the new wave of financial services.
Blockchain Capital is consider a serial investor in the digital asset space. The company’s list of investments encompasses several facets of the emerging industry, such as exchange giants Coinbase and Kraken, among others things.
Blockchain Capital’s investment portfolio also extends to the Decentralized Finance Market (DeFi) arena, endorsing projects like Aave, UMA, and Nexus Mutual.
Since securing about $2 million in funding from Blockchain Capital and other investors back in May 2018, OpenSea has been able to attract additional investments, including a $23 million injection back in early March of this year.
