San Francisco-based Blockchain Capital has closed its fourth venture vehicle on its $150m hard cap.
Blockchain Capital IV is the firm’s largest vehicle to date, and brings its total assets under management to $250m. There was a minimum contribution of $100,000 from outside investors, and the firm used Old City Securities as a placement agent, according to a US SEC filing.
The document states that $125m was raised from contributions of 99 backers. FinTech Global reported the firm was fundraising last year, with it having pulled in up to $59m from 76 backers back in October.
Founded in 2013, Blockchain Capital invests solely in the blockchain technology and crypto ecosystem. The firm has made 72 investments across companies, protocols and tokens, including contributions to Coinbase, Ripple, Ethereum and 0x.
Last year, the firm made a selection of investments in to the FinTech sector, including a lead investment in to ICO regulatory compliance technology platform Templum.
Headquartered in New York, Templum facilities regulated securities offerings with prioritisation on investor protection. Due to the lack of regulation and compliance in ICOs, the company has constructed the tokenized asset offering to provide a way for companies and funds to raise capital while complying with US Securities Law. Through its affiliate Liquid M Capital and its alternative trading system, Templum can provide liquidity for tokenised private securities on its regulated secondary trading platform.
Other commitments made last year include, e-sport crypto betting platform Unikrn’s $15m pre-ICO, crypto exchange ShapeShift’s $10.4m Series A and digital currency payment platform BitPersa’s $2.5m Series A.
Blockchain Capital co-founder and managing partner Bart Stephens said, “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. 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.”
Alongside the closing of the vehicle, Blockchain Capital has promoted Spencer Bogart to partner. Prior to this role, Bogart served as the managing director and head of research at the company.
This hiring comes after Bitcoin Core developer Jimmy Song was named as a venture partner at the firm.
Last year, the firm was looking to raise $50m for its third fund; however, it is unclear if the vehicle has closed. Blockchain Capital was hoping to raise $40m through LP commitments and the remaining $10m in an ICO.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
