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 of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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