Bloccelerate to launch second $100m cryptocurrency fund

Bloccelerate will raise $100 million for its new fund, according to a filing with the U.S. Securities and Exchange Commission.

Bloccelerate VC Fund II has already raised $20 million from 26 investors since its launch on August 25. The fundraising volume has surpassed the company’s first fund by $12 million, which was launched in December 2020.

Founded in 2018, Bloccelerate invested in the smart-contract platform MakerDAO, the Avalanche blockchain, the auditing firm Quantstamp, and the infrastructure blockchain startup BlockApps.

The firm specialises in token sales, pre-seed and Series A rounds.

In late summer, one of the largest US investment firms, Invesco announced the launch of a fund to invest in companies focused on virtual worlds.

Earlier, Shima Capital created a $200 million fund with a focus on decentralized social networks, DAOs, DeFi, blockchain gaming and metaverses.

In July, the crypto venture firm Variant raised $450m for two new funds.

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