Crypto-focused Blockchain Capital has raised $580 million across two new funds, one of the biggest raises for the asset class this year and the largest-ever for the venture firm in its 10-year history.
Blockchain Capital, which has an existing $2 billion in assets under management, will use the fresh capital to back crypto startups in areas including decentralized finance and gaming as well as infrastructure, general partner Kinjal Shah said in an interview with Bloomberg News.
Blockchain Capital’s investors include Visa Inc and PayPal Inc, as well as the Teacher Retirement System of Texas, which invested in Fund VI. Shah declined to disclose the terms of the raise.
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