Blockchain Capital, a venture capital firm focused exclusively on the blockchain technology sector and crypto ecosystem, has closed Blockchain Capital IV, LP a USD150 million fund.
The fund, which is the firm’s largest fund raised to date and brings assets under management to USD250 million, was oversubscribed at its hard cap with institutional limited partners representing fund of funds, foundations, strategic investors and family offices.
Since its inception in 2013, Blockchain Capital has invested in 72 companies, protocols, and tokens, including Coinbase, Ripple, Circle, Ethereum, 0x and Kraken. Blockchain Capital remains committed to working with the world’s best entrepreneurs who are leveraging blockchain technology to develop new businesses, protocols, markets and assets. Blockchain Capital IV, LP is a multi-stage fund that invests in both equity and crypto assets.
“As pioneers in the blockchain sector, we have been on the front lines and in the trenches with our portfolio companies building a new crypto ecosystem,” says Bart Stephens, Co-Founder and Managing Partner of Blockchain Capital. “It’s still early days and our mission is to help our new and existing portfolio companies succeed and advance this industry as a whole.”
Blockchain Capital also announced that Spencer Bogart was promoted to Partner. Bogart, who previously held the position of Managing Director and Head of Research, brings the rare combination of deep experience analyzing cryptocurrencies as well as traditional equity opportunities. Bogart is a contributor to Forbes and a frequent guest on CNBC and Bloomberg. Prior to joining Blockchain Capital, Bogart was a Vice President at Needham & Company, where he authored Wall Street’s first industry report highlighting the use-cases, companies and potential of blockchain technology.
“I am proud to be a part of the investment team at Blockchain Capital, and this USD150 million fund will allow us to match the right amount of capital to excellent deal flow,” says Bogart. “I am looking forward to working closely with Bart and Brad and the rest of the Blockchain Capital team as we continue to back cutting-edge blockchain companies and visionary projects.”
Bogart’s promotion comes on the heels of the appointment of Jimmy Song as a Venture Partner. Song, a widely followed and respected Bitcoin Core developer, has brought more than a decade of technical expertise, programming, and crypto development experience to the firm since joining in January.
