Blockchain Capital Close $300M Funding Round From PayPal, Visa Among Others
Blockchain Capital has successfully secured an investment for its Fund V LP, from PayPal, Visa, among other investors for a size of $300 million.
PayPal and Visa are among various major investors who participated in a $300 million funding for Blockchain Capital.
In a press release issued on Tuesday, Blockchain Capital announced the close of its Blockchain Capital V LP.
According to the release, Fund V, capped at $300 million was oversubscribed with numerous investors including college endowments, family offices, and pension funds participating in the capital raise.
According to the announcement, Blockchain Capital stated that PayPal, Visa, and some other Fund V investors will take part in the firm’s strategic partnership program.
Blockchain Capital is one of the oldest blockchain-focused funds in the industry and currently backs major projects including crypto exchanges like Kraken and Coinbase as well decentralized finance protocols like UMA, Nexus, and Aave.
The firm also has their fingers in the non-fungible token (NFT) space with marketplace OpenSea a part of its portfolio.
Blockchain Capital and Morgan Stanley Tactical Value brought a $48 million Series B funding round for asset tokenization platform Securitize. Back in May, the firm also was in the lead of a $24.25 million capital raise for DeFi protocol Balancer.
Blockchain Capital is a big name in the blockchain venture capital scene that has went through $16 billion in equity investments between 2012 and 2020.
Blockchain Capital co-founder and managing partner Bart Stephens commented the recent Fund V success:
“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.”
PayPal’s vice president, Jose Fernandez da Ponte, said that PayPal’s support of Blockchain Capital is part of its efforts to engage with entrepreneurs at the cutting edge of the emerging decentralized economy.
