Web3 Gaming is a Strategic Area
In a bold move characterized by foresight and tenacity, Blockchain Capital has successfully sealed an impressive $580 million in funds, despite the current bear market in the crypto sector. The funds will fuel their unwavering commitment to fostering open-source innovation, credible neutrality, and censorship resistance in the decentralized, blockchain-based systems globally. The firm made this announcement in a recent blog post dated September 18, 2023, marking a pivotal moment in their ten-year journey.
- Firm announces the largest fundraise in its ten-year history
- $580 million raised across two new funds: the sixth early-stage fund and inaugural opportunity fund
- Strategic investment areas include Infrastructure, Gaming, DeFi, and Consumer + Social sectors
- Aiming to revitalize the social contract in a digital world through blockchain technology
- Partnerships with Visa and PayPal to foster collaborative opportunities in the blockchain sector
Record-breaking Funds in Trying Times
Blockchain Capital described their recent feat as doubling up while doubling down. They have initiated two new funds: their sixth early-stage fund and a first-of-its-kind opportunity fund. Together, they represent the largest fundraising endeavor in the company’s decade-long history. This milestone showcases their investors’ staunch belief in Blockchain Capital’s long-term vision and expertise amidst the volatile crypto market that has witnessed a considerable downturn in the last 20 months.
Learning from History: A Contrarian Approach
The crypto market’s current turbulence echoes the tumultuous early days of the internet. Blockchain Capital emphasizes that the journey from the inception of ARPANET to the emergence of the first internet unicorn, Netscape, spanned 35 years. Drawing parallels with the Dot-com bust of the late 1990s, the company highlights the tendency of investors to have inflated expectations from budding technologies, often misjudging the pace of innovation. However, Blockchain Capital adopts a contrarian approach, investing more capital into next-generation innovators during the past 20 months than any other time in their history, banking on the belief that innovation thrives even in tough economic conditions.
Strategic Investments and Visionary Goals
Focusing their investments strategically on Infrastructure, Gaming, DeFi, and Consumer + Social sectors, Blockchain Capital’s strategy transcends sectors. Their core objective is to leverage blockchain technology to realign incentives, reestablish user trust, and reconstruct the social contract in our progressively digital world. They aim to foster personal empowerment by enabling individuals to have greater control over their digital and financial lives through innovative blockchain applications and services. This visionary approach is the driving force behind their investment choices and their steadfast dedication to fostering a democratized and distributed future.
A Commitment to Building a Decentralized Future
Blockchain Capital is not merely a financial contributor in the blockchain space; they position themselves as committed builders, advocates, and partners to innovators shaping the future. They are actively engaged with leading founders, developers, policymakers, and researchers, aiming to identify and nurture the forthcoming wave of breakthrough innovations. The company expressed deep gratitude to their partners and the broader crypto community for their unflinching trust in their common mission. They also extend an invitation to visionaries dedicated to revolutionizing distributed technology, echoing their passion and drive.
Blockchain Capital’s substantial fundraising in these trying times signifies more than financial acumen; it showcases a resilient and passionate commitment to leading the global transition to decentralized, blockchain-based systems. Their strategy, grounded in principles of open source innovation and focused on realigning the digital social contract, holds the promise of a transformative and empowered future.