Blockchain Capital Raises $13 Million for Second Investment Fund
Blockchain Capital, a prominent VC investor firm in the blockchain space, has raised $13 million in funding for its second investment fund. Blockchain Capital was initially aiming to raise about $10 million, but due to all the hype surrounding distributed ledgers, the funding round was oversubscribed by about $3 million.
BC was one of the first investment funds in the cryptocurrency scene. Since its inception in 2013, BC has invested in various digital currency startups such as Xapo and Coinbase.
Brock Pierce, co-founder of Blockchain Capital, said that this year blockchain technology will see a substantial influx of venture capital money from other industries ripe for disruption, “This is definitely going to be the first breakout year where you see substantial investment in blockchain technology outside of financial services, even including Bitcoin,” said Pierce, in a statement to Forbes.
Piece also believes that alternative blockchains such as Ethereum will gain much more traction this year.
BC has formed an Angel List investor syndicate that allows retail investors to participate in same investments as the fund. Retail investors can participate with only a $1000 investment, “Our fund has a lot of the similar LPs you see like family offices, CEOs, entrepreneurs, etc., but then there’s also a retail piece where people can participate in a syndicate that invests alongside the fund.” said Brad Stephens, managing partner and co-founder of Blockchain Capital.
The syndicate is a joint venture between Blockchain Capital and Flight.vc. Founded by Gil Penchina, Flight.vc has invested in many successful IPOs such as PayPal, LinkedIn and Indiegogo.
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.