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Blockchain Capital secures $300 million in funding from PayPal, Visa #cryptocurrency #bitcoin #crypto #blockchain

PayPal and Visa are among several key investors participating in the $300 million funding for Blockchain Capital.

In a release issued Tuesday, Blockchain Capital announced that its Blockchain Capital V LP.

According to the release, Fund V, which had a limit of $300 million, was oversubscribed with several investors, including college endowments, family offices and pension funds participating in the capital raising.

As part of the announcement, Blockchain Capital said PayPal, Visa and a few other Fund V investors will participate in the firm’s strategic partnership program.

Blockchain Capital is one of the oldest blockchain-focused funds in the industry and currently supports major projects including crypto exchanges such as Kraken and Coinbase, as well as decentralized finance protocols such as UMA, Nexus and Away.

The firm also has a footprint in the non-fungible token space, with the NFT marketplace OpenSea being a part of its portfolio.

As previously reported by Cointelegraph, Blockchain Capital partnered with Morgan Stanley Tactical Value to lead a $48 million Series B funding round for asset tokenization platform Securities. Back in May, the firm also led a $24.25 million capital raise for the DeFi protocol balancer.

Blockchain Capital is a major presence in the blockchain venture capital scene, which has seen $16 billion in equity investments between 2012 and 2020.

RELATED: Venture Capitalists Invest More Than $16B in Blockchain Equity Since 2012

Commenting on the success of Fund V and the lineage of investors involved in raising the capital, the press release quoted Blockchain Capital co-founder and managing partner Bart Stephens as saying:

“We are incredibly honored to welcome a world-class group of investors to Fund V who appreciate the value of a firm dedicated to an industry. As the founders themselves, we know what companies, protocols and truly How hard is it to build a new industry.”

For PayPal Vice President Jose Fernández da Ponte, the company’s support of Blockchain Capital is part of its efforts to connect with cutting-edge entrepreneurs in the emerging decentralized economy.

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