- Blockchain Capital has closed two new funds worth $580 million for investments in various sectors, including infrastructure, gaming, DeFi, and consumer and social technologies.
- The funds consist of an early-stage fund and an “opportunity fund” aimed at companies with significant prior funding.
- The investment strategy focuses on leveraging blockchain technology to realign incentives, rebuild user trust, and reshape the digital world’s social contract rather than specific sectors.
Crypto Venture Capital Group, Blockchain Capital, has announced the closing of two new funds totaling $580 million for investments in infrastructure, gaming, DeFi, and consumer and social technologies.
The funds will serve as Blockchain Capital’s sixth early-stage fund and its first “opportunity fund,” providing access to companies already receiving significant funding elsewhere.
As per its release, Blockchain Capital noted, “The end game is to elevate personal empowerment by granting individuals control over their digital and financial lives through innovative blockchain-enabled applications and services. It’s this vision of a democratized and distributed future that guides our passion and investment decisions.”
The combined $580 million will be divided, with $380 million going to the early-stage fund and the remainder going to the opportunity fund. Currently, the types of projects the investment fund will prioritize still need to be determined.
According to the announcement, the company will continue to invest in infrastructure, DeFi, gaming, and other finance, blockchain, and cryptocurrency prospects.
However, according to the press release, 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.”
“Indeed, the crypto market’s volatility these past 20 months revealed the hazards of short-term thinking, exposing many who misjudged this nascent technology,” notes Blockchain Capital in the release, adding that “over the past 20 months, we’ve invested more capital into the next generation of innovators than at any other time in our history.”
The most recent funds closed are among the largest in Bitcoin or blockchain history and the most that Blockchain Capital has ever amassed. However, this should not be read as an indication that the corporation plans to grow fund sizes indefinitely.
Spencer Bogart, one of the firm’s partners, told TechCrunch that the firm had “no intent to expand and become an AI fund or hedge fund and trade tokens” and that he didn’t envision future funds “becoming much larger than what you see here.”