The newly launched 432 million dollar fund from Blossom Capital focuses on crypto startups-finance
The newly launched 432 million dollar fund from Blossom Capital focuses on crypto startups-finance
Blossom Capital, which was founded in London, found in London, which was founded by Candice Lo, Imran Ghory, Mike Hudack and Ophelia Brown, to provide more funds for the growing cryptocurrency ecosystem. On January 18, Blossom announced a new fund worth $ 432 million, and a third of the capital will be distributed to crypto companies in the early phase.
A third of the new $ 432 million fund from Blossom to strengthen crypto companies
on Tuesday, the capital of the flower announced The establishment of a new venture fund worth $ 432 million, and according to the company, a third of the funds will be intended for startups in the area of digital currency. Blossom is a risk capital company that was founded in 2017 and invested in European companies that use serial A financing. The newly created fund of $ 432 million is also distributed to start-ups in the early phase that are looking for capital A.
Blossom previously supported companies such as Checkout.com, the digital currency company Moonpay and the online travel platform Duffel. The company to the financing round of Moonpay in the amount of 555 million US dollar in November 2021 with Tiger Global Management, the lead of the round, and other strategic investors. At the announcement on Tuesday, the managing partner Ophelia Brown said that she had secured the funds of well-known US universities and foundations.
"You share our conviction that capital can have an overly large impact on the development of a company in the early phase," said Brown in an explanation. "With this new fund, we continue our strategy persecuted to provide entrepreneurs with share capital."
venture funds that are committed to cryptography, continue to grow
Blossom's new fund announcement - which explains that a third of the fund will go to crypto companies in the early phase - follows a large number of risk capital funds that were initiated to promote the introduction of crypto, blockchain and web3. On January 14th, ftx Started FTX ventures with $ 2 billion for web3, blockchain and crypto companies. Polygon and Alexis Ohans Venture Capital Seven Seven initiated A US dollar social media web3 fund mid-December 2021.
In June 2021, that of Marc Andreessen and Ben Horowitz, Andreessen Horowitz (A16Z), started a crypto venture fund of $ 2.2 billion. At that time, the founding partners of the fund wrote that "crypto is not only the future of finance, but, as the Internet, is ready to change all aspects of our lives in the early days". In addition to the presentation of the new fund, Blossom Capital also recruited Alex Lim as the new managing partner of the investment company.
"In the early phase, founders need more than just capital from an investor; they need partners who do everything to be successful," said Lim. "We have built up a diverse partnership and a tailor -made service offer and are constantly striving to offer European founders an ever higher service level."
What do you think that Blossom Capital puts a risk capital fund of $ 432 million and a third of it devotes crypto companies? Share your opinion on this topic in the comment area below.
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