PayPal and Visa also participate! Blockchain Capital raises $300 million to invest in DeFi and blockchain technology.

Blockchain technology and cryptocurrency venture capital firm Blockchain Capital's latest fund has received significant oversubscription, reaching its $300 million fundraising cap, with payment giants PayPal and Visa participating.

$300 Million Venture Capital Fund

According to a press release by Blockchain Capital yesterday, their cryptocurrency fund, Blockchain Capital V, LP has successfully closed its fundraising phase. With participation from strategic investors, pension funds, university endowments, and family offices worldwide, the fund received significant oversubscriptions, reaching its $300 million fundraising cap. This capital will be focused on investments in blockchain infrastructure, DeFi, NFTs, and emerging blockchain technology applications.

Founded in 2013, Blockchain Capital is an early-stage venture capital firm in the industry. Their portfolio includes cryptocurrency exchanges like Kraken and Coinbase, as well as decentralized finance (DeFi) protocols such as UMA, Nexus, and Aave.

Notably, payment giants PayPal and Visa are investors in this Fund V and will also participate in the company's strategic partnership program alongside other investors.

Jose Fernandez da Ponte, head of PayPal's blockchain division, stated in the press release:

"PayPal is committed to fostering an ecosystem where digital currencies are more accessible, useful, and secure. Investing in Blockchain Capital's new fund enables us to collaborate with entrepreneurs driving the future of decentralized economies and the next wave of financial services."

Vasant Prabhu, Chief Financial Officer of Visa, also commented:

"We are focused on enhancing all forms of money movement, whether on the Visa network or beyond. Through our relationship with Blockchain Capital, we are deepening efforts to shape and support the future of digital currencies."