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

Blossom Capital, the London-based task superior steadfast founded by Candice Lo, Imran Ghory, Mike Hudack, and Ophelia Brown plans to dedicate much funds to the increasing cryptocurrency ecosystem. On January 18, Blossom announced a caller money worthy $432 million, and a 3rd of the superior volition beryllium distributed to early-stage crypto firms.

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

On Tuesday, Blossom Capital announced the instauration of a caller task money worthy $432 cardinal and according to the company, a 3rd of the funds volition beryllium dedicated to integer currency startups. Blossom is simply a task superior steadfast that was launched successful 2017 and it invests successful European companies leveraging Series A financing. The recently created $432 cardinal money volition besides beryllium distributed to early-stage startups seeking Series A capital.

Blossom has antecedently backed firms similar checkout.com, the integer currency steadfast Moonpay, and the online question level Duffel. The institution contributed to Moonpay’s $555 cardinal backing circular successful November 2021 with the round’s lead, Tiger Global Management, and different strategical investors. Managing spouse Ophelia Brown explained during the announcement connected Tuesday that she secured the funds from well-known U.S. universities and endowments.

“They stock our condemnation that early-stage superior tin person an outsized interaction connected the trajectory of a company,” Brown said successful a statement. “With this caller fund, we are continuing with our high-conviction strategy of providing foundational superior to entrepreneurs.”

Venture Funds Dedicated to Crypto Continue to Grow

Blossom’s caller money announcement — that explains a 3rd of the money volition spell to early-stage crypto firms — follows a ample fig of task superior funds, which person been initiated to bolster crypto, blockchain, and Web3 adoption. On January 14, FTX launched a task money called FTX Ventures with $2 cardinal for Web3, blockchain, and crypto firms. Polygon and Alexis Ohanian’s Seven Seven Six task superior initiated a $200 cardinal societal media Web3 fund successful mid-December 2021.

In June 2021, the Silicon Valley task superior steadfast founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz (a16z), launched a $2.2 cardinal crypto task fund. At the clip the fund’s founding partners wrote that “crypto is not lone the aboriginal of concern but, arsenic with the net successful the aboriginal days, is poised to alteration each aspects of our lives.” In summation to revealing the caller fund, Blossom Capital besides recruited Alex Lim arsenic the concern firm’s caller managing partner.

“Founders request much than conscionable superior from an capitalist astatine the aboriginal stage; they request partners who spell supra and beyond to marque them successful,” Lim detailed. “We person built a divers concern and tailored services offering, and are perpetually pushing ourselves to supply ever-higher levels of work to European founders.”

What bash you deliberation astir Blossom Capital initiating a $432 cardinal task superior money and dedicating a 3rd of it toward crypto firms? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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