San Francisco’s Blockchain Capital has secured $580 million for two new cryptocurrency investment funds

San Francisco’s Blockchain Capital has successfully raised $580 million for two new cryptocurrency investment funds. The firm, established in 2013, introduced its sixth early-stage venture fund and an initial opportunity fund, with contributions from Visa, among others. Visa and PayPal were also investors in Blockchain Capital’s previous $300 million fund, which concluded in 2021.

Venture investment in crypto start-ups has seen a significant decline over the past year. During the second quarter of this year, the total venture capital funding for Web3 projects reached $1.8 billion, reflecting a substantial 76% decrease from the approximately $7.5 billion raised in Q2 of 2022.

Despite the recent challenges in the crypto space, Blockchain Capital remains undeterred

The firm acknowledges that the volatility of the last two years has highlighted the risks of short-term thinking and exposed those who underestimated this emerging technology.

In their statement, they emphasize, “Over the past 20 months, we’ve invested more capital in the next generation of innovators than ever before. The reason is clear: today’s market presents unparalleled opportunities, driven by a surge of highly skilled founders working on a wide range of innovative technologies.”

During this period, Blockchain Capital has strategically invested in various sectors, including Infrastructure, Gaming, DeFi (Decentralized Finance), and Consumer + Social.

“However, our strategy isn’t limited to specific sectors; it revolves around leveraging blockchain technology to reshape incentives, rebuild user trust, and redefine the social contract in our ever more digital world.

The ultimate goal is to empower individuals by giving them control over their digital and financial lives through innovative blockchain-based applications and services. This vision of a decentralized and inclusive future inspires our dedication and investment choices.”

In conclusion

they state, “To the visionaries revolutionizing the landscape of distributed technology, we share your passion and encourage you to connect with us.”