Blockchain Capital has raised $150m to invest in companies operating in the crypto space.
The fund, known as Blockchain Capital IV, is the firm’s biggest to date and brings its assets under management to $250m.
Bursting on the scene in 2013, Blockchain Capital has backed 72 companies to date, including well-known firms in the crypto space such as Coinbase, Ripple, Circle, Ethereum and Kraken.
A statement released by the firm said it “remained committed to working with the world’s best entrepreneurs who are leveraging blockchain technology to develop new businesses, protocols, markets and assets”.
It also added that Blockchain Capital IV would be a multi-stage fund that invests in both equity and crypto assets.
“As pioneers in the blockchain sector, we have been on the front lines and in the trenches with our portfolio companies building a new crypto ecosystem,” said Bart Stephens, co-founder and managing partner of Blockchain Capital. “It’s still early days and our mission is to help our new and existing portfolio companies succeed and advance this industry as a whole.”
Blockchain Capital also announced that Spencer Bogart was promoted to Partner. Bogart previously held the position of managing director and head of research.
“I am proud to be a part of the investment team at Blockchain Capital, and this $150m fund will allow us to match the right amount of capital to excellent deal flow,” said Bogart.
“I am looking forward to working closely with Bart and Brad and the rest of the Blockchain Capital team as we continue to back cutting-edge blockchain companies and visionary projects.”