Why has Blockchain Capital closed two new funds?

Crypto-focused VC firm Blockchain Capital has closed two new funds for a total of $580 million. Why it matters: Despite a global slowdown in crypto dealmaking, LPs continue to back firms focused on the sector. Details: The two new vehicles, first reported by TechCrunch, are Blockchain Capital's sixth early-stage fund and its first opportunity fund.

Is Blockchain Capital still going big?

Gone are the days when space and defense were considered fundamentally antithetical to venture investment. Now, the country’s largest venture capital firms are throwing larger portions of their money behind… The crypto bear market may be ongoing, but Blockchain Capital is still going big.

Is Blockchain Capital a blip of hope for blockchain boosters?

Blockchain Capital’s fund raise is a blip of hope for blockchain boosters amid a comparatively depressing funding landscape for crypto VCs and startups. In the first half of 2023, VCs only invested $2.3 billion into crypto startups, a 75% decrease from the same period in 2022, according to data from Pitchbook.