Blockchain Capital Announces $13M For Second Venture Fund

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Venture capital firm Blockchain Capital (www.blockchain.capital) today announced the final closing of its second fund with over $13 million in committed capital surpassing its fundraising target of $10 million. With commitments totaling over $15 million since the firm’s inception in 2013, Blockchain Capital is an industry pioneer and leader in financing Blockchain technology companies and the Bitcoin ecosystem.

Blockchain Capital’s initial fund with 30 portfolio companies was the first venture fund dedicated to investing in the sector. The first fund also pioneered accepting capital calls in bitcoin and funding portfolio companies in bitcoin. Blockchain Capital has been investing out of the second fund throughout 2015 and has already invested in 23 Blockchain technology companies.

“We are excited to announce the closing of our second fund so that we can continue to support world-class entrepreneurs who are leveraging Blockchain technology to disrupt legacy industries and create new products and services around the globe,” said Co-Founder and Managing Partner Brad Stephens.

Blockchain Capital also announced that its successful Blockchain Capital AngelList syndicate has partnered with Gil Penchina’s Flight.vc to form the Blockchain Capital @ Flight.vc syndicate. This combined syndicate is now the largest and most active syndicate focused on Blockchain and Bitcoin start up investment opportunities. The Blockchain Capital @ Flight.vc has cumulatively invested in 7 companies raising over $2 million dollars to help entrepreneurs grow their businesses.

“Equity crowdfunding is a disruptive innovation in financial services that democratizes and decentralizes venture capital. As an early adopter of platforms like AngelList, we are thrilled to combine forces with Gil Penchina who is the leading investor on AngelList,” said Co-Founder and Managing Partner Brock Pierce.

“The pace of innovation we are seeing in Fintech, in general, and Blockchain technology in particular, is staggering. We are profoundly grateful for the support from our limited partners who are CEOs, family offices, technology executives, hedge fund managers, entrepreneurs and other venture capitalists. Sophisticated investors appreciate that this industry is complex and moving quickly, that specialization is important. They value our focus, deal flow, expertise and unparalleled network of advisors,” said Bart Stephens, Co-Founder and Managing Partner.

In conjunction with the closing of the fund and launch of the expanded AngelList syndicate, Blockchain Capital announced the appointment of Advisory Board members representing expertise in technology, financial services, entrepreneurship, legal services and regulatory issues:

  • Alison Davis (Chairman) — Former CFO of Barclays Global Investors; Director Royal Bank of Scotland; Director Fiserv; Director Diamond Foods; (fmr) Director Xoom and First Data Corp.
  • Terry Schwakopf — Senior Advisor at Deloitte; (fmr) EVP Federal Reserve Bank of San Francisco, banking supervision
  • John Wolpert — Global Blockchain Offering Director, IBM
  • Bobby Lee — CEO, BTCC; Director Bitcoin Foundation
  • Mary Cranston — Director, Visa; (fmr) Chairman & CEO Pillsbury Winthrop
  • Simon McNamara — CAO, Royal Bank of Scotland
  • Niccolo De Masi — CEO, Glu Mobile
  • Michael McAdam — CFO, Union Bank (Mitsubishi UFJ Financial Group)
  • Vinny Lingham — CEO, Gyft (acquired by First Data)
  • Charlie Lee — Founder, Litecoin; Director of Engineering, Coinbase
  • Chris Pallotta — Partner, Raptor Capital; Advisor, MIT Media Lab
  • Will O’Brien — Co-Founder, BitGo
  • Matt Ocko — Partner, Data Collective

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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