Blockchain Capital raises $580 million for two crypto funds

San Francisco-based venture firm Blockchain Capital has raised $580 million for two new investment funds.

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. ↓https://t.co/Vr2uYnGlF7

— Blockchain Capital (@blockchaincap) September 18, 2023

The vehicles are targeted at infrastructure, consumer and social projects, gaming and DeFi protocols. Among the repeat investors is the payments giant Visa.

“Over the last 20 months we have invested more capital in the next generation of innovators than at any time in our history. The reason is simple: the current market offers unprecedented opportunities driven by the influx of highly skilled founders who are building a broad range of innovative technologies”, the statement said.

In June 2021 Blockchain Capital raised $300 million for Fund V. The limited partners were Visa and PayPal.

Under management, the firm has assets exceeding $2 billion. In its portfolio входят Coinbase, Kraken, Anchorage, OpenSea, Aave, Worldcoin and others.

In August, the amount raised by crypto firms through investment rounds rose by 39.8% versus July.

One of the notable deals of the last month of summer, alongside Ramp’s $300 million round, was the crypto custodian BitGo $100 million round, valuing it at $1.75 billion.

Third place by amount raised went to investments in blockchain platform ZetaChain ($27 million).