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Crypto Asset Manager BlockTower Launches $150M Venture-Capital Fund

BlockTower has also created a new venture-capital arm.

By Brandy Betz
AccessTimeIconOct 13, 2022 at 4:36 p.m. UTC
Updated May 9, 2023 at 3:59 a.m. UTC
BlockTower has launched a venture-capital arm with a $150 million fund. (CoinDesk archives)
BlockTower has launched a venture-capital arm with a $150 million fund. (CoinDesk archives)
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Crypto-focused asset-management firm BlockTower has launched a venture capital arm with a new $150 million fund to back decentralized-finance (DeFi) and blockchain-infrastructure projects. The fund has operated in stealth since December and counts BPI France and MassMutual among its financial backers.

The new venture-capital arm will be led by general partner Thomas Klocanas, a veteran of investment firm White Star Capital, who confirmed the fund details during a call with CoinDesk.

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    • BlockTower is one of several notable crypto investment firms that is a registered investment advisor (RIA), which gives the firm more flexibility particularly when it comes to liquid and illiquid token investments. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance.

    The Block was the first to report on news of the launch.

    UPDATE (Oct. 13, 21:33 UTC): Adds BlockTower confirmation and removes 'Report' from the headline.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter

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