- Blockchain Capital raises $580M from Visa PayPal for new crypto funds focused on DeFi gaming despite the recent crypto downturn.
- Blockchain Capital launches $580M crypto funds betting on DeFi, gaming, and infrastructure amid crypto market struggles.
- Principal backers Visa and PayPal support Blockchain Capital’s new $580M crypto funds for DeFi gaming sectors.
Blockchain Capital, a leading crypto venture capital firm, has raised $580 million in new funding to invest in decentralized finance (DeFi), gaming, infrastructure, and other emerging sectors.
Blockchain capital raises $580M for two new Crypto funds.
The San Francisco-based VC firm now has over $2 billion in assets under management. The new funds include a $500 million Fund VI to target early-stage startups and an $80 million Opportunity Fund for later-stage investments.
Significant backers of Fund VI include Visa, PayPal, and the Teacher Retirement System of Texas. General Partner Kinjal Shah said in an interview there are still opportunities in NFTs and crypto tokens despite the recent downturn.
Blockchain Capital will continue investing in tokens and blockchain platforms despite regulatory uncertainty in the US. “The regulatory environment is certainly challenging,” said Shah. “There’s perhaps more than normal interest in moving abroad.”
Focus on DeFi, gaming, and infrastructure.
Blockchain Capital has previously invested in leading crypto firms, including the exchange Kraken, NFT marketplace OpenSea, and blockchain project Worldcoin.
The new funds will focus on emerging sectors like decentralized finance (DeFi), crypto gaming, and infrastructure. Crypto markets have stumbled in 2022, but VC funding remains robust as investors see long-term potential.
Cryptocurrencies are decentralizing finance through DeFi protocols like Uniswap and MakerDAO. New blockchain games like Axie Infinity have also gained popularity. DeFi aims to recreate lending, trading, and other services without intermediaries.
In addition, infrastructure providers like Ankr and Infura are seeing more demand as activity expands to new chains. Major institutions like Visa and PayPal continue allocating to crypto. Blockchain Capital’s new $580 million will power the next wave of crypto startups with critical early funding.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
