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Blockchain Capital Secures $580 Million for New Crypto Funds Despite Bear Market Woes

Press Releases Crypto News BeInCrypto Blockchain Capital Secures $580 Million for New Crypto Funds Despite Bear Market Woes

The crypto venture capital (VC) company Blockchain Capital has raised $580 million for its two new venture funds.

Some believe that crypto assets are going through the longest-ever bear market as Bitcoin hovers between $25,200 to $30,000. However, with the anticipation of a new bull market post the Bitcoin halving, additional capital is entering the market.

Blockchain Capital Plans to Focus on Six Crypto Sectors

According to TechCrunch, BlockChain Capital secured $580 million for its sixth early stage fund and first “opportunity fund.” The VC firm will allocate two-thirds of the total capital for the former and the remaining amount for the latter.

The company would invest in the seed round and Series A round of crypto startups through its early-stage fund. However, the opportunity fund will focus on the companies raising funds at a later stage if Blockchain Capital missed participating in the initial rounds.

With the latest funding, Blockchain Capital will focus on six sectors:

Decentralized Finance
Centralized Finance
Decentralized Infrastructure
Centralized Infrastructure
Gaming
Consumer/Social

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While more details about the funding are not available, it is worth noting that companies like PayPal and Visa are some of the largest investors in Blockchain Capital. They were the main investors in Blockchain Capital’s $300 million Fund V.

With this fundraising, some community members believe the crypto bulls are back in the game. The development comes as crypto monthly fund raises are down to 2020 levels.

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Author: Harsh Notariya

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