Blockchain Capital has announced that it will allocate $580 million to support cryptocurrency projects, with $380 million earmarked for early-stage and Series A projects and the remaining $200 million targeted at Series B and beyond. This strategic move is significant in driving the development of cryptocurrency projects.
Currently, Blockchain Capital has not disclosed specific projects that will receive funding. However, this venture capital fund plans to focus its new capital infusion on four key areas: infrastructure, gaming, DeFi (Decentralized Finance), and consumer/social technology.
With the $580 million raised by Blockchain Capital, it’s evident that investment demand from funds remains high despite the cryptocurrency market’s downturn over the past year.
“In the past 20 months, we’ve invested in more future projects than at any time in Blockchain Capital’s history. The reason is straightforward: the current market is providing unprecedented opportunities. They’re driven by a wave of highly skilled entrepreneurs developing a wide range of innovative technologies.”
- Statement from Blockchain Capital
Notably, Blockchain Capital is a major player in cryptocurrency investment, having previously made substantial investments. For instance, they led a $115 million Series C round into the Worldcoin project and a $40 million Series A round into RISC Zero, a cryptocurrency infrastructure provider, among other projects.
However, most of Blockchain Capital’s key partners are traditional institutional investors, including university endowments, private organizations, financial institutions, sovereign wealth funds, and U.S. retirement plans. Notable among them are Visa and PayPal, who invested $300 million in Blockchain Capital during their fifth funding round in 2021.
Blockchain Capital also includes strategic and non-traditional investors in its portfolio.