Blockchain Capital Closes $300M Fund Backed by PayPal and Visa
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Blockchain Capital, a cryptocurrency-focused venture capital firm, has raised $300 million for its fifth fund called Blockchain Capital V, LP. According to a press release, the fund was "heavily oversubscribed" with participation from strategic investors such as pension funds, major university endowments and family offices.

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The firm will use the raised capital to invest in blockchain infrastructure, decentralized finance (DeFi), and non-fungible tokens (NFTs). Blockchain Capital says that a number of investors in Fund V will be participating in the firm's strategic partnership program, including PayPal and Visa.

"As founders ourselves, we know how hard it is to build companies, protocols and, indeed, a whole new industry," said Bart Stephens, Co-Founder and Managing Partner of Blockchain Capital.

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Blockchain Capital's closure of a new fund follows the firm's recent investment in a blockchain firm called Securitize. As iHodl reported, the firm raised $48 million in a Series B round led by Blockchain Capital and Morgan Stanley Tactical Value. The investment round also included participants such as Ava Labs, IDC Ventures, Migration Capital, NTT Data and Sumitomo Mitsui Trust Bank.

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