The venture capital firm Blockchain Capital, has raised a fund equaling $150,000,000 US Dollars for the latest venture that it’s going on. The firm, founded in 2013, has been entirely focused on blockchain technology and the cryptocurrency world and since it started off, it has invested in over 70 different companies, tokens and protocols. The companies that Blockchain Capital has invested into include the likes of Ripple, Ethereum, Circle, Kraken and even Coinbase. This goes to show the commitment that the venture capital firm has in trying to work with companies that leverage blockchain technology to make more protocols, develop assets, markets and new businesses.
With the closing of the Blockchain Capital IV,LP on Thursday, Blockchain Capital has officially managed to raise the largest amount in funds by the venture capital firm to date. It also brings the total amount of the assets that the venture capital firm is handling up to $250,000,000 US Dollars. This round by Blockchain Capital came in two parts with the first being $125 million raised for blockchain Capital IV LP fund. The rest of the $25 million came for Blockchain Capital Parallel Fund IV. It was not clarified which tokens were being accepted to raise the funds for this venture but it was made very clear that the funds were indeed raised in cryptocurrencies.
The venture capital firm is definitely going to expand much more after this with their managing partner and co-founder, Bart Stephens being someone who has a lot of interest in diversified solutions that can be reached leveraging the power of blockchain technology. Blockchain Capital intends to go beyond just investing in financial services. While it will be investing in the various cryptocurrency companies out there like they have always been doing, they will also ventured into investing on entrepreneurs and outside the financial services industry. With investments by the venture capital firm having been made in the fields of identity management, different logistics companies and even the healthcare industry, Blockchain Capital is widening its reach.
Along with the raising of their largest fund yet, Blockchain Capital also announced that they have promoted their Managing Director, Spencer Bogart to Partner in the venture capital firm. This brings more good news to the company since Bogart has a lot of significant experience in the field and has been appearing quite frequently on Bloomberg and CNBC as well as being a contributor to Forbes for all his experience in analyzing cryptocurrencies alongside the more traditional investment classes.
There was a further boost added to the company after the promotion of Bogart to Partner with Jimmy Song also being appointed as a Venture Partner in the firm in January. Song is one of the core developers from Bitcoin and hence someone who has incredible amounts of knowledge and respect in the cryptocurrency community. With the likes of Song joining Blockchain Capital, the company is looking well poised to grow further.
Blockchain Capital is one of the first firms that came about with the sole purpose to actively invest into the world of cryptocurrencies and it seems like it will play a significant role in the future as well.
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