Crypto and blockchain-focused enterprise capital agency Blockchain Capital says it has raised $300 million for its V Fund. PayPal and Visa amongst conventional traders are nonetheless displaying curiosity within the crypto {industry}.
Blockchain Capital says it has raised $300 million for the VU fund
The fund was oversubscribed with a tough cap of 300 million, the corporate stated [USD] with the participation of strategic traders, pension funds, endowments from main universities and household workplaces from around the globe,” the corporate stated.
“We are extremely honored to welcome a group of world-class investors to Fund V who appreciate the value of a company that is dedicated to a single industry. As founders, we know how difficult it is to build new companies, protocols, and indeed entire new industries,” stated P. Bart Stephens, co-founder and managing companion of Blockchain Capital, stated.
Selected traders in Fund V will take part in Blockchain Capital’s strategic partnership program – together with PayPal and Visa. Blockchain Capital can leverage its industry-leading network, analysis capabilities and {industry} contacts to the advantage of these funds corporations in addition to Blockchain Capital’s portfolio firms.
“PayPal is committed to fostering the ecosystem of companies that make digital currencies accessible,” stated Jose Fernandez da Ponte, vp, basic supervisor, blockchain, crypto and digital foreign money, PayPal. extra helpful and safer. “Investing in Blockchain Capital’s new fund allows us to engage with entrepreneurs who are driving the future of the decentralized economy and new wave of financial services.”
Selected traders in Fund V will take part within the firm’s strategic partnership program, together with the giants PayPal and Visa. “Blockchain Capital can leverage its industry-leading network, research capabilities and industry contacts to the benefit of these payments firms as well as those in the portfolio,” the corporate stated. funding of Blockchain Capital”.
According to Jose Fernandez da Ponte, head of blockchain at PayPal, the worldwide funds firm is “committed to fostering an ecosystem of companies that make digital currencies more accessible, useful, and secure.” added that investing in Blockchain Capital’s new fund permits PayPal to “engage with entrepreneurs driving the future of the decentralized economy and new wave of financial services. “
Vasant Prabhu, Visa’s Chief Financial Officer, stated their firm is concentrated on enhancing “all forms of money movement, whether on the Visa network or beyond.”
Learn about Blockchain Capital firm
Blockchain Capital was based in 2013 with a mission to assist entrepreneurs construct world-class firms and tasks primarily based on blockchain know-how – giving founders the instruments they should succeed: capital , area experience, partnerships, recruitment and technique. Blockchain Capital is likely one of the earliest and energetic enterprise capitalists within the blockchain {industry} and has funded over 110 firms and tasks since its inception.
The firm invests in each fairness and crypto belongings and is a multi-stage investor. Blockchain Capital additionally pioneered the world’s first tokenized funding fund and by extension the blockchain {industry}’s first safety token, BCAP, which the corporate bought by means of a token providing safety in April 2017.
Blockchain Capital believes that blockchain know-how holds the promise of disrupting legacy companies and creating completely new markets and enterprise fashions. It invests in firms that share Blockchain Capital’s mission of leveraging blockchain know-how to alter the world in profound methods.
The portfolio consists of firms like main crypto exchanges Coinbase and Kraken, in addition to main DeFi tasks, equivalent to Aave (AAVE).
Blockchain Capital’s subsequent investments will deal with blockchain infrastructure, rising functions on blockchain, decentralized finance (DeFi), and non-fungible tokens (NFT).
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