Blockchain Capital has raised $150 million for its fourth fundraising round. This is the firm’s largest fund raised to date and brings assets under management to $250 million.
Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain industry and the crypto ecosystem. It has invested in 72 companies, protocols, and tokens, including Coinbase, Ripple, Circle, Ethereum, 0x and Kraken.
The fourth fundraising round was oversubscribed with institutional limited partners representing fund of funds, foundations, strategic investors and family offices. The money will be used to invest in companies that leverage blockchain technology to develop new businesses, protocols, markets and assets.
Bart Stephens, Co-Founder and Managing Partner of Blockchain Capital, said their mission is to help their new and existing portfolio companies succeed and advance the blockchain industry as a whole.
“You’re going to see us continue to invest globally in the leading crypto companies, but also kind of the next generation of entrepreneurs and sectors outside of financial services,” said Stephens. “We’ve made investments in healthcare companies, in logistics companies, in identity management. To date we’ve seen a lot of focus on financial services and we really see that broadening.”
Blockchain Capital also announced that Spencer Bogart, who previously held the position of managing director and Head of Research, was promoted to Partner. Bogart was a vice president at Needham & Company, where he authored Wall Street’s first industry report highlighting the use-cases, companies and potential of blockchain technology.
“I am proud to be a part of the investment team at Blockchain Capital, and this $150 million 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.”
In January, bitcoin developer Jimmy Song joined Blockchain Capital as a Venture Partner. The company will use Song as a bridge to the developer community and have him provide technical expertise to the firm’s investment research, as well as lead programst to foster blockchain tech innovation.