Blockchain Capital raises $7 million in first close of second VC fund

Blockchain Capital announced Tuesday the first closing of its second venture capital fund as well as its rebrand from Crypto Currency Partners.

The company’s second fund raised $7 million in a first close and will continue to invest in blockchain-enabled technology firms over the next 12 to 24 months. Blockchain Capital’s initial fund with 29 portfolio businesses was the first venture fund dedicated to investing in the sector. The company said in a press release its fund also pioneered accepting capital calls in Bitcoin and funding portfolio companies in Bitcoin.

The company also announced the launch of Blockchain Capital syndicate on AngelList and will invest alongside the venture fund.

W. Bradford Stephens, managing partner, Blockchain Capital.

“We believe equity crowdfunding shares the values of the blockchain economy: access, innovation and decentralization,” said Blockchain Capital managing partner Brad Stephens in the press release. “We are also unique in having many founders and CEOs of top bitcoin companies as limited partners, providing unprecedented early access to the best entrepreneurs and companies in the sector. Our mission is to support entrepreneurs who are disrupting legacy industries and creating new markets via blockchain technology.”

Alison Davis,
director, Royal Bank of Scotland, XOOM, and First Data.

The company also announced the appointment of Alison Davis to chair its advisory board. Davis is a current director of the Royal Bank of Scotland and Firserv. She is a former board member of First Data, Xoom, and City National Bank, as well as a former CFO of Barclays Global Investors (now BlackRock).

Image credits:

Logo – via Blockchain Capital’s press release

Brad Stephens’ photo – via Team page of Blockchain Capital’s website

Alison Davis’ photo – via team page