Venture capital group Blockchain Capital announced the closing of two new funds, totaling $580 million, for investment in infrastructure, gaming, DeFi, and consumer and social technologies.
The funds will operate as Blockchain Capital’s sixth early stage fund and its first “opportunity fund,” with the latter serving as an inroad to companies who’ve already secured major funding elsewhere.
We're thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund.
Together, they total $580 million and serve to reinforce our commitment to leading the global transition to decentralized, blockchain-based systems. ↓https://t.co/Vr2uYnGlF7
According to a press release from Blockchain Capital:
The funds’ combined $580 million will be split, with $380 million reportedly going to the early stage fund and the rest earmarked for the opportunity fund. It’s unclear at this time exactly what types of projects the investment fund will prioritize.
According to the press release, the company will continue its trend of investing in infrastructure, DeFi, gaming, and other finance, blockchain and cryptocurrency opportunities.
However, the press release also mentions that Blockchain Capital’s strategy “isn’t about sectors; it’s about harnessing blockchain technology to realign incentives, reestablish user trust and reengineer the social contract of our increasingly digital world.”
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“Indeed, the crypto market’s volatility these past 20 months revealed the hazards of short-term thinking, exposing many who misjudged this nascent technology,” writes Blockchain Capital in the release, adding later that “over the past 20 months we’veRead more on cointelegraph.com