London-based venture capital firm Blossom Capital has raised $432 million to invest in early-stage tech startups in Europe. The company has reserved a third of the proceeds for investments in the cryptocurrency industry.

Blossom Capital eyes the crypto universe

The cryptocurrency initiative, which the British organization launched, comes as no surprise since its founder – Ophelia Brown – personally purchased bitcoin ten years ago:

“I’ve been personally active in this space since buying my first bitcoin in 2012, so we’ve sort of debated every year now, when is the right time to continue to increase exposure and make it the core of the fund. “

She also revealed that her company’s strategy is not only to invest in digital assets, but also to “seek stakes in start-up companies developing crypto infrastructure.”

Alex Lim – managing partner at Blossom Capital – predicted that cryptocurrencies and applications built around blockchain technology have the potential to “inflate value” for start-up companies. The asset class’ notorious volatility is not a problem for the executive, and he said his company is focused on the long term:

“Our investment horizon is a decade and we are less concerned with day-to-day volatility.”

The company has already invested in the payment company CheckoutCom. Following the round, the latter’s valuation soared to $40 billion, making it one of Europe’s most valuable startups. Other bets include cybersecurity automation platform Tines and business planning software Pigment.

Blossom Capital’s largest investment to date is in crypto payments company MoonPay. In November last year, the venture capital firm closed a $555 million seed round, which took MoonPay’s valuation to $3.4 billion. Besides Blossom Capital, the investment was also led by Coatue, Tiger Global and Paradigm.

The most important funds this year

Although only 18 days have passed since the start of the new year, the cryptocurrency space has already seen massive funding rounds.

On January 5, OpenSea – the leading NFT marketplace – raised $300 million in Series C funding, bringing its valuation to over $13 billion. Hedge fund sponsors such as Paradigm and Coatue led the investment. The hegemon of the non-fungible token universe has pledged to distribute the funds to achieve four goals: accelerate product development; improve the customer support policy; invest in the NFT ecosystem and hire more people.

Shortly after, prominent crypto investor Katie Haun revealed plans to raise $900 million for a pair of digital asset investment funds. This development could be a significant start for his venture capital firm since it recently left Andreessen Horowitz (a16z).

Subsequently, the American cryptocurrency exchange FTX created a $2 billion venture capital fund to invest in specific blockchain projects. The entire amount of funding came from the company’s founder and CEO, Sam Bankman-Fried.


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