Venture capital company Blockchain Capital plans to raise $250M to launch its fifth investment fund, The Block reports.
The company plans to complete the fundraising before the end of the first quarter. The funds will be invested in about 35-45 investment objects. The fund, dubbed Fund V, is expected to invest 75% of the funds in equity and the remaining 25% in crypto assets.
Blockchain Capital will focus mainly on early stage startups.
Since it was established back in 2013, Blockchain Capital has raised around $173M. The first three funds have an internal rate of return (IRR) of 49%, 53% and 60%.
Blockchain Capital raised in 2018 $150M to launch Fund IV. The firm currently has about $295M in assets under management.
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