For its Fund V LP, Blockchain Capital has received $300 million in funding from PayPal, Visa, and other investors.
Several prominent investors, including PayPal and Visa, participated in a $300 million investment round for Blockchain Capital.
According to the press release, Fund V, which was capped at $300 million, was oversubscribed, with several investors participating in the capital raising, including college endowments, family offices, and pension funds.
PayPal, Visa, and a few other Fund V investors will participate in Blockchain Capital’s strategic partnership program, according to the company.
Blockchain Capital is one of the industry’s first blockchain funds, and it now invests in important projects such as crypto exchanges like Kraken and Coinbase, as well as decentralized finance protocols including UMA, Nexus, and Aave.
With NFT marketplace OpenSea as part of its portfolio, the company also has a presence in the nonfungible token arena.
Blockchain Capital, along with Morgan Stanley Tactical Value, led a $48 million Series B fundraising round for asset tokenization platform Securitize, as previously reported by Cointelegraph. The company also managed a $24.25 million capital raising for DeFi protocol Balancer in May.
Between 2012 and 2020, Blockchain Capital received $16 billion in equity investments, making it a key player in the blockchain venture capital industry.
According to the press release, Blockchain Capital co-founder and managing partner Bart Stephens said of the performance of Fund V and the pedigree of investors involved in the capital raise:
“We are incredibly honored to welcome a world class group of investors into Fund V who appreciate the value of a firm dedicated to a single industry. As founders ourselves, we know how hard it is to build companies, protocols and, indeed, a whole new industry.”
PayPal’s sponsorship of Blockchain Capital, according to vice president Jose Fernandez da Ponte, is part of the company’s attempts to interact with entrepreneurs at the forefront of the burgeoning decentralized economy.