As per the latest reports, Blockchain Capital has announced that it has carried out a successful funding round. Blockchain Capital has revealed that as a result of the funding round, they were able to generate a significantly high amount.
According to the blockchain firm, it has managed to generate $300 million from the particular funding round. The company has revealed that there were many prominent names that took part in the funding round.
As per the Blockchain Capital, the most prominent firms that participated in the funding round were Visa and PayPal.
The announcement around the success of the funding round was made by Blockchain Capital on Tuesday, June 22, 2021. With the completion of the recent funding round, the firm has brought its Blockchain Capital V LP.
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The firm has revealed that it had pre-capped its funding amount to $300 million. However, the firm ended up facing a tremendous amount of oversubscription from the investors. If the funding round was not capped, the company would have ended up generating a figure much higher than $300 million.
The firm has also revealed that the participants and investors in the funding round were companies with pension funds, family offices, and college endowments. These investors participated in the funding round and helped in raising such a high capital.
The firm has also talked about its strategic partnership program, revealing that many firms that participated in the fund round would be a part of that. Blockchain Capital has confirmed that some of the major firms would include Visa, PayPal, and Fund V investors.
Blockchain Capital is one of the oldest funds that focused on the blockchain system. The firm is currently responsible for backing numerous firms that have been playing a huge role in the cryptocurrency and blockchain sector.
The firm has revealed that some of the major firms include Coinbase and Kraken that are centralized projects. On the other hand, the company also supports decentralized finance (DeFi) firms such as Aave, Nexus, and UMA.
Blockchain Capital is not just limited to the traditional ways in the cryptocurrency universe. The firm is also anxious to explore more and become part of the wider market in the cryptocurrency and blockchain industry.
Just recently, Blockchain Capital has started focusing on the non-fungible token (NFT) industry. The non-fungible token (NFT) sector is similar to the decentralized finance (DeFi) sector when it comes to growth and worldwide adoption.
The sector is being rallied by mainstream institutions, celebrities, and even athletes due to its usability. The sector has a lot of potential and room for growth, which could turn out to be an extremely lucrative sector in the coming years.