Blockchain Capital has raised $580 million in its latest funding rounds to invest in the crypto ecosystem with the ‘next wave of breakthrough innovations.’
The latest funding is dedicated to Blockchain Capital’s two investment funds, $200 million for the opportunity fund and $380 million for its early-stage fund. “Together they total $580 million and serve to reinforce our commitment to these long held principles,” the VC firm said in an announcement.
The amount raised in this funding is the largest for the VC firm in the past 10 years of history. It’s also the biggest raise for the asset class this year.
While speaking to Bloomberg, the General Partner of Blockchain Capital, Kinjal Shah confirmed that the fresh funding will be used towards investing in crypto gaming, decentralized finance (DeFi), and infrastructure startups.
Kinjal said that the firm will continue to invest in tokens despite an ongoing debate about classifying several cryptocurrencies and tokens as securities. She added that Europe and Asian regions are becoming centers for crypto innovations as “the regulatory environment is certainly challenging,” in the US.
Blockchain Capital has some of the largest backers including payment companies Visa and PayPal. The venture firm has also now secured investment from the Teacher Retirement System of Texas, a US government agency of the state of Texas.
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