Blockchain Capital pulls in up to $59m for its fourth vehicle

Venture capital firm Blockchain Capital has pulled in up to $59m for its fourth vehicle, FinTech Global can reveal.

The vehicle, Blockchain Capital IV, is looking to raise up to $75m; however, it is unclear if this is a target or hardcap, according to a new US Securities and Exchange Commission filing.

So far, there have been 76 investors registered as contributing to the fund, which has a minimum contribution value of $100,000.

New York-based Old City Securities has been named as the placement agent for the fund.

Earlier in the year, the San Francisco-based firm was looking to raise $50m for its third fund, Blockchain Capital III Digital Liquid Venture Fund. Of the capital, the firm set to raise $10m through an ICO by selling its own digital tokens. The remaining capital would be raised from traditional limited partner funding.

Blockchain Capital looks to invest in bitcoin and blockchain companies, having backed around 42 companies in the past three years. Current companies in its portfolio include payments platform BitPersa, blockchain management platform Tierion and blockchain infrastructure system Block.One.

Global blockchain and cryptocurrency investments have grown over YOY since 2014, and are set to hit a new record in 2017. In the first half of this year the sector pulled in $412m, which is 72 per cent of the amount raised in 2016.

Copyright ? 2017 FinTech Global

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