The Rise of Blockchain Capital: $580 Million Raised for New Venture Funds
The crypto venture capital company, Blockchain Capital, has successfully raised $580 million for two new venture funds. While many consider crypto assets to be in a prolonged bear market, the anticipation of a new bull market after the Bitcoin halving has attracted additional capital to the market.
Blockchain Capital’s Focus on Six Crypto Sectors
TechCrunch reports that Blockchain Capital secured this funding for its sixth early-stage fund and its first “opportunity fund.” The majority of the capital will be allocated to investing in seed and Series A rounds of crypto startups through the early-stage fund. Meanwhile, the opportunity fund will focus on companies raising funds at a later stage if Blockchain Capital missed out on participating in the initial rounds.
The six sectors that Blockchain Capital will prioritize with this funding include decentralized finance, centralized finance, decentralized infrastructure, centralized infrastructure, gaming, and consumer/social.
Investors Favor AI Over Crypto
There has been a decline in crypto investments as venture capitalists shift their focus towards artificial intelligence (AI) investments. While crypto investments are decreasing, AI investments are on the rise. This trend is evident from the declining trend in crypto investments compared to the increasing trend in AI investments.
Long-Term Vision for Crypto Startups
While many investment houses are betting big on AI, Blockchain Capital remains committed to its long-term vision for supporting crypto startups. The company’s general partner, Spencer Bogart, stated that they have no intention of expanding into other sectors like AI or becoming a hedge fund. Their focus is solely on supporting and investing in the crypto industry.
Hot Take: The Future of Crypto Funding
With Blockchain Capital raising $580 million for its new venture funds, it is a positive sign for the crypto industry. Despite the current bear market, the influx of capital indicates continued interest and potential growth in the sector. While AI investments may be gaining popularity among venture capitalists, there are still dedicated investors who believe in the long-term viability of crypto startups. As the market evolves, it will be interesting to see how funding trends continue to shape the future of the crypto industry.
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