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Blockchain Capital Raises $7 Million for Strengthening Blockchain Economy

Blockchain Capital has announced the first closing of its second venture capital fund and rebranding from Crypto Currency Partners.

It has raised $7 million in the first closing and will continue to invest in bitcoin and blockchain-based ventures in the next 24 months. This is the second time Blockchain Capital is coming forward to help bitcoin companies with funds.

The company is managed by entrepreneur and Bitcoin Foundation Chairman Brock Pierce along with experienced investors Bart Stephens and Brad Stephens, whose family co-founded Robertson Stephens, an old Silicon Valley investment bank which was acquired by Bank of America in 1997. Till date the company has made 35 investments and has exited from one.

  • 2015: Coinbase, Bitnet Technologies, Blockstream, Texas Bitcoin Conference, PeerNova, BTC China, SFOX, Circle 38, ZenBox, AlphaPoint, BitAccess, itBit and two more.
  • 2014: Kraken, Coinsetter, BitGo, LedgerX, Gem, Koinify, expresscoin, GoCoin, FreshPay, BitPesa, Blade, ChangeCoin and eight more.

Source: AngelList

When asked about the blockchain economy, Stephens said, "We believe equity crowdfunding shares the values of the blockchain economy: access, innovation and decentralization. And with regard to Blockchain Capital, he said, We are also unique in having many founders and CEOs of top bitcoin companies as limited partners, providing unprecedented early access to the best entrepreneurs and companies in the sector. Our mission is to support entrepreneurs who are disrupting legacy industries and creating new markets via blockchain technology."

Many mainstream technology companies, including NASDAQ and USAA, have started showing their interest in blockchain technology. Globally, analysts feel that the blockchain concept might be one of the most transformative ideas to impact the world since the Internet. Cryptocurrencies like bitcoin is merely one application of the blockchain concept. The blockchain is a public transaction ledger built in a decentralized network structure based on cryptographic principles so that any kind of trading, buying and selling of assets does not need to go through a centralized intermediary. Any kind of asset may be encoded into the blockchain and transacted, validated or preserved in a much more efficient manner than at present including ideas, health data, financial assets, automobiles and government documents. Investors are calling the blockchain the next big investment wave.

Blockchain Capital is aiming at add an additional $3 million to close its second round of funding.


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