Blockchain Capital Raises $13 Million for Second Startup Fund

Venture capital firm Blockchain Capital has raised $13m for its second investment fund for bitcoin and blockchain technology ventures.

AccessTimeIconJan 27, 2016 at 4:35 p.m. UTC
Updated Sep 11, 2021 at 12:06 p.m. UTC

Venture firm Blockchain Capital has closed its second investment fund for bitcoin and blockchain technology startups after raising $13m.

According to Forbes, the fundraise was oversubscribed, having had an original target of $10m. The announcement follows Blockchain Capital's $7m fund, revealed last June.

The firm said that it drew from the second fund over the course of 2015, using the proceeds to make investments in 23 startups focused on bitcoin and blockchain projects.

Brad Stephens, managing partner for the firm, said in a statement:

"We are excited to announce the closing of our second fund so that we can continue to support world-class entrepreneurs who are leveraging blockchain technology to disrupt legacy industries and create new products and services around the globe."

In addition to the close, Blockchain Capital announced the creation of a new AngelList syndicate in partnership with Flight Ventures, which has invested in firms like PayPal, LinkedIn and Indiegogo, as well as AngelList.

, formerly known as Crypto Currency Partners, is led by Bitcoin Foundation chairman Brock Pierce and venture capitalists Bart and Brad Stephens.

Since its founding, Blockchain Capital has invested in 37 bitcoin and blockchain industry startups and raised more than $15m. Blockchain Capital's portfolio includes startups such as AbraBlockstream, CoinbaseRipple and Wave.

Image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
A New Chapter of Web3: Solana Unveils Smartphone ‘Saga’; Moody’s Downgrades Coinbase

The most valuable crypto stories for Friday, June 24, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
How Are Institutions and Companies Investing in Crypto?

From putting bitcoin on their balance sheets to setting up shop in the metaverse, the ways brands and institutions are investing in cryptocurrencies continues to expand.

CoinDesk - Unknown
3
CoinDesk - Unknown
Consensus 2022: Hollywood, Colleges, Conferences vs. Crypto

The state of crypto and economics live from Consensus 2022 in Austin, Texas.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin se estabiliza cerca de $21K; inversores esperan evitar otra caída el fin de semana

Los analistas se cuestionan si BTC podrá mantenerse por encima del umbral de $20.000 en un clima de desconfianza entre los inversores.

CoinDesk - Unknown