VC Firm Blossom Capital Raises $432M to Invest in the Cryptocurrency Ecosystem

Blossom Capital, a London-based venture capital firm, raised $432 million in order to invest in European early-stage startups. A third of the funds will be used to invest in the cryptocurrency sector.

Blossom Capital Eyes Crypto Universe

The British-based organization launched the cryptocurrency initiative. It is not surprising, as Ophelia Brown, its founder, bought bitcoin ten year ago.

“I have been actively involved in this space since I bought my first Bitcoin in 2012. We have debated each year about when it is right to increase the exposure and make the fund more core.

She revealed that her company is not only interested in investing in digital assets, but also “eyeing equity stakes at early-stage companies creating crypto infrastructure.”

Alex Lim, Managing Partner at Blossom capital, predicted that blockchain-based applications and cryptocurrencies could “inflate value” early-stage businesses. He said that the volatility of this asset class is not an issue and that his company is focused only on the long-term.

“Our investment horizon spans a decade, so we are less concerned with day-to-day volatility.”

CheckoutCom, a payments company, was previously invested by the firm. The valuation of CheckoutCom soared to $40 billion after the round. This made it one of Europe’s most valuable startups. Other bets include the cybersecurity-automation platform Tines and the business planning software Pigment.

The crypto-payments startup MoonPay is Blossom Capital’s largest investment. The venture capital firm closed a $555m round in November 2017, which raised MoonPay’s value to $3.4 billion. The investment was led by Blossom Capital and Tiger Global. Paradigm also participated.

The Year with the Most Funds

Although it has been only 18 days since the beginning of the new year the cryptocurrency industry has already seen significant funding rounds.

OpenSea, the world’s largest NFT marketplace, raised $300 million in Series C financing on January 5. This equates to a valuation of more than $13 Billion. The investment was led by Paradigm and Coatue, both hedge fund sponsors. The non-fungible token universe’s hegemon pledged to distribute funds to achieve four goals: Accelerate product development, improve customer support policy, invest in NFT ecosystem and hire more people.

Katie Haun, a prominent crypto investor, announced plans to raise $900 million for two digital asset investment funds. Since she recently left Andreessen Hoowitz (a16z), this could be a significant debut for her venture capital company.

The US cryptocurrency exchange FTX created a $2B venture fund to invest specifically in blockchain projects. Sam Bankman-Fried, the founder and CEO of the company, provided the entire funding.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the””  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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