Blockchain Capital, a San Francisco, CA-based venture capital firm founded to focus exclusively on blockchain technology and the crypto ecosystem, closed Blockchain Capital V, LP., at $300m.
Backers included strategic investors, pension funds, major university endowments and family offices from around the world. LPs include PayPal and Visa.
Since its inception in 2013, Blockchain Capital has invested in more than 110 companies, protocols and crypto assets across the ecosystem. The portfolio includes such industry leaders as Coinbase, Kraken, Anchorage and OpenSea, as well as DeFi leaders Aave, Nexus Mutual and UMA.
With a team of 15, the firm will continue its mission of partnering with the industry’s leading founders to help them grow their businesses and protocols. Investments will be focused on:
- blockchain infrastructure,
- NFTs, and
- emerging applications of blockchain technology.
Led by P. Bart Stephens, co-founder and managing partner, Blockchain Capital will leverage its network, research capabilities and industry contacts to benefit these payments companies as well as its portfolio companies.
In conjunction with the fund closing, the firm announced the promotion of Aleks Larsen to partner.