PayPal and Visa Back Blockchain Capital’s $300M Fund

Monday: Blockchain Capital has just wrapped up funding for its Fund V LP. As per the latest reports, Visa and PayPal also took part in the funding round.

Raising over $300 million, major investors oversubscribed to Blockchain Capital’s fund. This is likely because there is still high interest in blockchain technology and the opportunities it will create. This is despite the current market low crypto is going through. Many university endowments, hedge funds, and family offices made their way to the capital-raising round besides Visa and PayPal.

The company’s co-founder and managing partner Bart Stephens shared his delight on closing the VC’s fifth successful fund-raise. He said, “We are incredibly honored to welcome a world-class group of investors into Fund V who appreciate the value of a firm dedicated to a single industry. As founders ourselves, we know how hard it is to build companies, protocols, and, indeed, a whole new industry.”

Spokespersons from Visa and PayPal noted that they supported Blockchain Capital because it will boost innovation in Decentralized Finance (DeFi). Jose Fernandez da Ponte, head of the blockchain, crypto, and digital currencies department at PayPal stated:

Investing in Blockchain Capital’s new fund allows us to engage with the entrepreneurs driving the future of the decentralized economy and the new wave of financial services.

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