Blockchain Capital Seeks $700M for Two New Crypto Coins

Blockchain Capital is raising $700 million through two new funds, according to Bloomberg.

Quoting someone familiar with the matter, Bloomberg said the venture capital firm is pursuing its seventh fund and its second expansion fund, and has already deployed some of the new capital.

The fundraising project is based on the existing data of Blockchain Capital more than $2 billion in things under management. The company demonstrated its continued investment efforts last week by leading a $12 million investment for Paxos Labs, according to corporate reports.

Opinion of the company Blockchain Capital VC history includes crypto exchange Coinbase, DeFi platform 1inch and Aave, and stablecoin providers of Circle and Tether, placing it among the most established players.

Crypto venture capital

The fundraising effort comes amid challenges for crypto venture capital. Crypto VC funding rose to $2.42 billion in March from $683.6 million in February and $1.31 billion in January, before falling to around $466 million in April, according to corporate data.

According to the latest JP Morgan reportcrypto “has also become a major driver of fintech investment,” accounting for $3.5 billion — 45% of all fintech investment — in the year to date. Crypto asset management companies are starting to become a financial hub, too, with Tokyo-based Metaplanet last month. revealing the business arm and plans to send around $25 million in companies to build Bitcoin financial infrastructure.

Blockchain Capital’s new investment follows the longest-running crypto startup. Public companies now save billions in Bitcoin assetswhile the crypto currency market continues to grow. Three altcoins received lower ETFs this month, showing the growing importance of cars crypto currency. This section has also seen high-profile security events, including business startups to give a gift to recover $42 million in stolen crypto.