Blockchain Capital Raises $580 Million for New Funds in Investment in Infrastructure, Gaming, DeFi, and Consumer Technologies
Venture capital group Blockchain Capital has announced the closure of two new funds with a total value of $580 million. The funds will be used for investment in infrastructure, gaming, DeFi, and consumer and social technologies.
This move marks Blockchain Capital’s sixth early stage fund and its first “opportunity fund” which aims to provide support to companies that have already secured significant funding from other sources.
“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,” tweeted Blockchain Capital.
According to the company, the ultimate goal of these funds is to empower individuals by granting them control over their digital and financial lives through innovative blockchain-enabled applications and services. The company’s investment decisions are guided by the vision of a democratized and distributed future.
The funds will be divided, with $380 million reportedly allocated to the early stage fund, while the remaining amount will be set aside for the opportunity fund. The specific types of projects that will be prioritized by the investment funds have not yet been disclosed. However, Blockchain Capital has a track record of investing in infrastructure, DeFi, gaming, and other finance, blockchain, and cryptocurrency opportunities.
The company’s strategy focuses on harnessing blockchain technology to realign incentives, reestablish user trust, and reengineer the social contract of the increasingly digital world.
Blockchain Capital’s latest funds mark a significant milestone in cryptocurrency and blockchain history, representing the largest funds ever raised by the company. However, this should not be interpreted as an indication that the firm intends to consistently increase the sizes of its funds.
In an interview with TechCrunch, Spencer Bogart, one of the firm’s partners, stated that they have no plans to become an AI fund or hedge fund and trade tokens. He added that future funds are unlikely to be much larger than the current ones.
Overall, this new capital injection highlights the continued growth and development of the blockchain industry, as well as the increasing interest and investment in blockchain-enabled technologies.
Source: [Blockchain Capital](https://www.blockchaincapital.com/blog/doubling-up-while-doubling-down-announcing-our-latest-funds)
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