Original: at The Block , the original author: Celia Wan
Source: Planet Odaily, Translator: Azuma
San Francisco-based blockchain venture capital firm Blockchain Capital is planning to raise $ 250 million for its fifth fund.
According to information shared by an investment platform, Blockchain Capital expects the new fund "Fund V" to close for the first time in the first quarter of 2020 and plans to make 35 to 45 investments. Another document obtained by The Block shows that Fund V plans to allocate 75% of funds to equity investments and 25% to crypto assets. For equity investment, Blockchain Capital will aim at different stages, focusing on the seed round and the A round.
In 2018, Blockchain Capital closed its fourth fund, raising a total of $ 150 million. As of September 30, 2019, the fund has invested 57% and the asset management scale (AuM) has increased to USD 184 million. The fund's limited partner (LP) has an internal rate of return (IRR) of 17%.
Blockchain Capital was established in 2013. Its first four funds raised a total of US $ 173 million, and AuM totaled US $ 295 million. The IRRs of the first three funds are 49%, 53%, and 60%.
As of the third quarter of 2019, Blockchain Capital has made more than 80 investments, and its portfolio includes well-known companies and projects such as Kraken, Coinbase, Ripple, Bakkt and MakerDAO, Bison Trails, Anchorage. Existing LPs include Andreessen Horowitz (a16z) co-founder Marc Andreessen and partner Chris Dixon, well-known Silicon Valley investor, DFJ founder Tim Draper, and Ripple.