TechFlow reported, according to Blockworks, Blockchain Capital has raised $580 million for two new investment funds. Visa and PayPal are strategic investors in the firm, though their commitments to Blockchain Capital's latest funds have not yet been finalized.
One of the funds is the sixth early-stage fund from the San Francisco-based firm—consistent with its previously launched early-stage vehicles—while the other is its first so-called opportunity fund.
According to data from consulting firm Architect Partners, cryptocurrency private fundraising in the first half of 2023 declined by 75% compared to the same period last year. While the number of fundraisings has remained relatively stable over recent quarters, the total capital raised has decreased, especially in late-stage financings.
Blockchain Capital's limited partners include "forward-thinking" university endowments, private foundations, financial institutions, sovereign wealth funds, and U.S. pension plans such as the Teacher Retirement System of Texas.
