San Francisco-based Blockchain Capital, a venture firm focused on the blockchain technology sector and crypto ecosystem, has raised $150 million for its fourth fund. Blockchain Capital IV’s limited partners include fund of funds, foundations, strategic investors and family offices. In conjunction with the fundraising, Blockchain has promoted Spencer Bogart from managing director and head of research to partner.
SAN FRANCISCO, March 22, 2018 /PRNewswire/ — Blockchain Capital, the premier venture capital firm focused exclusively on the blockchain technology sector and crypto ecosystem, today announced the closing of Blockchain Capital IV, LP a $150 million fund. This is the firm’s largest fund raised to date and brings assets under management to $250 million. The fund was oversubscribed at its hard cap with institutional limited partners representing fund of funds, foundations, strategic investors and family offices.
Since its inception in 2013, Blockchain Capital has invested in 72 companies, protocols, and tokens, including Coinbase, Ripple, Circle, Ethereum, 0x and Kraken. Blockchain Capital remains committed to working with the world’s best entrepreneurs who are leveraging blockchain technology to develop new businesses, protocols, markets and assets. Blockchain Capital IV, LP is a multi-stage fund that invests in both equity and crypto assets.
“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,” said Bart Stephens, Co-Founder and Managing Partner of Blockchain Capital. “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.”
Blockchain Capital also announced that Spencer Bogart was promoted to Partner. Bogart, who previously held the position of Managing Director and Head of Research, brings the rare combination of deep experience analyzing cryptocurrencies as well as traditional equity opportunities. Bogart is a contributor to Forbes and a frequent guest on CNBC and Bloomberg. Prior to joining Blockchain Capital, Bogart was a Vice President at Needham & Company, where he authored Wall Street’s first industry report highlighting the use-cases, companies and potential of blockchain technology.
“I am proud to be a part of the investment team at Blockchain Capital, and this $150 million fund will allow us to match the right amount of capital to excellent deal flow,” said Bogart. “I am looking forward to working closely with Bart and Brad and the rest of the Blockchain Capital team as we continue to back cutting-edge blockchain companies and visionary projects.”
Bogart’s promotion comes on the heels of the appointment of Jimmy Song as a Venture Partner. Song, a widely followed and respected Bitcoin Core developer, has brought more than a decade of technical expertise, programming, and crypto development experience to the firm since joining in January.
About Blockchain Capital
Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain technology industry and the crypto ecosystem. Blockchain Capital has raised and deployed three prior venture funds, including the first ever ICO of a venture fund (BCAP) in April of 2017. The firm is based in San Francisco and was founded by serial entrepreneurs and Silicon Valley investors Bart Stephens and Brad Stephens. To learn more, please visit www.blockchaincapital.com and follow us on Twitter @blockchaincap.