Morning Report: Blockchain Capital closed $150 million fund to invest in blockchain tech.
Blockchain Capital, a San Francisco-based venture capital firm that focuses investments in blockchain tech and crypto, closed a $150 million fund announced today. According to the press release, the fund brings its total assets under management to $250 million.
Founded in 2013, its founders, who have backgrounds in hedge fund management, internet security, and financial technology, hopped on the blockchain train early, as the firm boasts itself as the pioneer in blockchain investments. The firm invests in both equity and crytpo assets.
Among its 72 past investments are digital currency trading platforms Coinbase as well as a lead investment in Coinsetter which was acquired by global bitcoin exchange Kraken in 2016. Coinbase, which was founded in 2011, has benefited off of the crypto hype over the past couple of years, raising a known total of over $225 million since its inception from 41 investors.
Blockchain Capital took part in Coinbase’s $75 million Series C in 2015. However, according to Crunchbase data, 52 percent of the firm’s known investments are in seed stage rounds with an additional 25 percent in Series A ventures and 10 percent in initial coin offerings.
From The Crunchbase Daily:
- Things are moving in Dropbox’s direction ahead of the firm’s IPO. The cloud storage unicorn, which just boosted its projected share price, is expected to commence trading Friday morning.
In a spree of interviews and a new post, Mark Zuckerberg responded to public outcries following revelations that Cambridge Analytica misappropriated personal information of tens of millions of Facebook users.
TCR2 Therapeutics, a Cambridge, Mass.-based immuno-oncology startup, closed on $125 million in a Series B financing co-led by 6 Dimensions Capital and Curative Ventures.
Hip hop stars are known for their street cred, and they’ve been extending it to addresses like Wall Street and Sand Hill Road. Crunchbase News takes a look at the most active dealmakers, following a string of recent hits.