Blossom Capital’s Newly Launched $432 Million Fund to Focus on Crypto Startups

Blossom Capital, the London-based enterprise capital agency based by Candice Lo, Imran Ghory, Mike Hudack, and Ophelia Brown plans to dedicate extra funds to the rising cryptocurrency ecosystem. On January 18, Blossom introduced a brand new fund price $432 million, and a 3rd of the capital will probably be distributed to early-stage crypto companies.

A Third of Blossom’s New $432 Million Fund to Bolster Crypto Companies

On Tuesday, Blossom Capital announced the creation of a brand new enterprise fund price $432 million and in response to the corporate, a 3rd of the funds will probably be devoted to digital foreign money startups. Blossom is a enterprise capital agency that was launched in 2017 and it invests in European corporations leveraging Series A financing. The newly created $432 million fund can even be distributed to early-stage startups in search of Series A capital.

Blossom has beforehand backed companies like checkout.com, the digital foreign money agency Moonpay, and the web journey platform Duffel. The firm contributed to Moonpay’s $555 million funding spherical in November 2021 with the spherical’s lead, Tiger Global Management, and different strategic buyers. Managing companion Ophelia Brown defined throughout the announcement on Tuesday that she secured the funds from well-known U.S. universities and endowments.

“They share our conviction that early-stage capital can have an outsized influence on the trajectory of an organization,” Brown stated in an announcement. “With this new fund, we’re persevering with with our high-conviction technique of offering foundational capital to entrepreneurs.”

Venture Funds Dedicated to Crypto Continue to Grow

Blossom’s new fund announcement — that explains a 3rd of the fund will go to early-stage crypto companies — follows a lot of enterprise capital funds, which have been initiated to bolster crypto, blockchain, and Web3 adoption. On January 14, FTX launched a enterprise fund referred to as FTX Ventures with $2 billion for Web3, blockchain, and crypto companies. Polygon and Alexis Ohanian’s Seven Seven Six enterprise capital initiated a $200 million social media Web3 fund in mid-December 2021.

In June 2021, the Silicon Valley enterprise capital agency based by Marc Andreessen and Ben Horowitz, Andreessen Horowitz (a16z), launched a $2.2 billion crypto enterprise fund. At the time the fund’s founding companions wrote that “crypto is just not solely the way forward for finance however, as with the web within the early days, is poised to rework all points of our lives.” In addition to revealing the brand new fund, Blossom Capital additionally recruited Alex Lim because the funding agency’s new managing companion.

“Founders want extra than simply capital from an investor on the early stage; they want companions who go above and past to make them profitable,” Lim detailed. “We have constructed a various partnership and tailor-made companies providing, and are continuously pushing ourselves to supply ever-higher ranges of service to European founders.”

What do you concentrate on Blossom Capital initiating a $432 million enterprise capital fund and dedicating a 3rd of it towards crypto companies? Let us know what you concentrate on this topic within the feedback part beneath.

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