Blockchain Capital, one of the first venture capital firms to be focussed exclusively on investing in blockchain projects and companies, has announced the closure of its Blockchain Capital Fund V which had managed to raise $300 million.
The company said that this fund was highly oversubscribed which shows continued interest from large investors in the blockchain field and its growth as the next frontier of choice for developers, companies, and investors.
“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.
Some of the investors in Fund V include Paypal and Visa. They have trusted Blockchain Capital to leverage their network and knowledge to ensure that the invested funds are used in the best manner possible and invested into the right blockchain projects so that it is useful for the companies and also for the investors as well.
“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.”
Paypal and Visa have been pretty supportive of companies that are working in the blockchain field and have also been one of the earliest companies to invest in crypto payment systems. They have declared that they believe that crypto payments are the future for the payments industry and so it is not a surprise that they continue to invest in such funds.
Blockchain Capital has invested in over 100 blockchain-related companies since its founding in 2013 and continues to support many companies that are focused on this technology. It was also the first company to launch a tokenized investment fund and the company has strongly believed that blockchain technology is the future and that it is only a matter of time before banks and other financial companies switch their systems to the blockchain once they realize that it is the biggest disruptor of the industry over the past decade or so. This is why the fund is investing heavily into such companies and also able to attract a lot of investors, big and small, to believe in their ideals.