Blockchain Capital Closes $580M Funds, Led By CEO Spencer Bogart

Blockchain Capital, led by founder and CEO Spencer Bogart, has successfully closed two new funds totaling $580 million despite the ongoing crypto bear market. These funds comprise the firm's sixth early-stage fund and its inaugural "opportunity fund," with approximately two-thirds and one-third of the capital allocated to each, respectively. Blockchain Capital, known for its decade-long commitment to blockchain and crypto investments, will concentrate on six key sectors: decentralized finance, centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social. Notably, the firm's strategic LPs, including Visa and PayPal, seek active collaboration and value Blockchain Capital's insights for potential partnerships. The opportunity fund aims to support projects that may have been overlooked during their seed or Series A rounds, demonstrating the firm's intent to remain focused on blockchain-based startups with a long-term vision rather than diversifying into unrelated sectors. Despite market challenges, Blockchain Capital remains dedicated to responsible growth while maintaining its commitment to the blockchain industry.

Summary of transaction details

• Fund Name: Blockchain Capital
• Fund Amount: $580,000,000
• Types of Funds: Early-stage fund and opportunity fund
• Allocation: Approximately two-thirds to early-stage fund and one-third to opportunity fund

Headquartered in an unspecified location, Blockchain Capital is a renowned investment firm focused on blockchain and crypto investments. Led by CEO Spencer Bogart, the company has successfully closed two new funds totaling $580 million. These funds consist of an early-stage fund and an opportunity fund, with the majority of the capital allocated to the former. The firm's strategic LPs, including Visa and PayPal, are actively seeking collaboration and value Blockchain Capital's insights for potential partnerships. The opportunity fund specifically aims to support blockchain-based startups that may have been overlooked during their seed or Series A rounds, reflecting the firm's commitment to the long-term vision of the industry. Despite challenges in the market, Blockchain Capital remains dedicated to responsible growth and its ongoing involvement in the blockchain sector.