- Blockchain Capital has raised $580 million for its sixth venture fund and first opportunity fund.
- Global payments giant, which also joined the crypto VC’s fifth fund was among the investors.
- Blockchain Capital maintains its long-term view on the crypto space, highlighting the perils of taking a short-term approach.
Blockchain Capital has launched two new funds. The crypto-focused venture capital firm on Monday said it raised $580 million for its sixth venture fund and first opportunity fund.
According to TechCrunch, the funds are allocated roughly two-thirds for the sixth venture fund and one-third for the opportunity fund. This announcement comes at a time when venture funding for crypto projects has been on a decline.
Blockchain Capital raised $300 million for its fifth venture fund in 2021, with global payment giants PayPal and Visa participating. The latter was also an active investor the the $580 million raised in the latest round.
“Over the past 20 months, we’ve invested more capital into the next generation of innovators…