Blockchain Capital Raises $300 Million Fund with LP Included PayPal and Visa
Blockchain Capital, a leading venture firm focusing exclusively on blockchain technology and the crypto ecosystem, announces the close of Blockchain Capital V Fund at the hard cap of $300 million. Strategic investors, pension funds, major university endowments and family offices from around the world have joined the Fund V.
"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," said P. Bart Stephens, co-founder and managing partner of Blockchain Capital.
The limited partner in Fund V, including PayPal and Visa, will be participating in Blockchain Capital's strategic partnership program. Blockchain Capital is able to leverage its industry-leading network, research capabilities and industry contacts to benefit these payments companies as well as Blockchain Capital's portfolio companies.
"PayPal is committed to fostering an ecosystem of companies making digital currencies more accessible, useful and secure," said Jose Fernandez da Ponte, vice president, general manager blockchain, crypto and digital currencies, PayPal. "Investing in Blockchain Capital's new fund allows us to engage with the entrepreneurs driving the future of the decentralized economy and the new wave of financial services."
Blockchain Capital believes the resulting synergies will create immense value to enterprises, startup founders and investors alike.
"We're focused on enhancing all forms of money movement, whether on the Visa network, or beyond," said Vasant Prabhu, chief financial officer, Visa Inc. "Through our relationship with Blockchain Capital, we are deepening our efforts to shape and support the role that digital currencies play in the future."
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