Crypto-focused venture capital firm bloccelerate has raised $20 million toward a $100 million second fund, already more than it raised for its inaugural fund. BrandyBetz reports
The Bloccelerate VC Fund II has already raised $20 million from 26 investors since the fund opened Aug. 25. While only one-fifth of the target, the amount already surpasses the firm’sCoinDesk reached out to Seattle-based Bloccelerate for comment and had not received a response by press time.
Bloccelerate invests in seed and Series A funding rounds and tokens. Global venture capital investments in the crypto industryyear over year in the first half of 2022 due to the bear market, but the number of deals remained healthy, indicating a rise in smaller deals. Founded in 2018, Bloccelerate is led by general partners Kate Mitselmakher and Sam Yilmaz. Past investments have included collaborative lending platform MakerDAO, the Avalanche blockchain and blockchain security firm Quantstamp, according to the
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