Blockchain Capital, a San Francisco-based venture capital firm, has just raised $580 million for two new investment funds.
The structures are reportedly targeting infrastructure, social and consumer projects, gaming and DeFi protocols.
Investors include payments giant Visa.
According to the statement:
"Indeed, the crypto market’s volatility these past 20 months revealed the hazards of short-term thinking, exposing many who misjudged this nascent technology. Instead of recognizing the quieter, fundamental indicators of long-term value creation, investors often misjudge innovation’s tempo and play ahead of the beat."
Blockchain Capital manages more than $2 billion in assets. Its clients include Coinbase, Kraken, Anchorage, OpenSea, Aave, Worldcoin and others.