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PayPal and Visa invested in $300 million fundraising of Blockchain Capital

22 Jun 2021 : 23:39
2 min read
  • Blockchain Capital has attracted $300 million in investment from PayPal, Visa and other investors for its Fund V LP
  • Blockchain Capital is considered as one of the oldest funds in the crypto space
  • Both Visa and PayPal commented on their investment, explaining why they made the decision to invest in the fund

In a press release issued Tuesday, Blockchain Capital announced that the Blockchain Capital V LP closing was oversubscribed with a cap of $300 million and numerous investors, including college endowments, family offices and pension funds, participated in the capital raise. Two of the notable investors who participated in the raise were PayPal and Visa, both of which have been actively investing in the cryptocurrency space.

Blockchain Capital is considered as one of the oldest funds in its sector

Although the sector Blockchain Capital is operating in is very young, it is considered one of the oldest funds in the field and currently backs crypto exchanges such as Coinbase and Kraken, as well as decentralized finance protocols such as Aave., Uniswap and Sushi.

The firm also has footprints in the non-fungible token space, with NFT marketplace OpenSea and universal internet identity platform as part of its portfolio.

Visa  and PayPal both commented on the investment

Visa’s chief financial officer, Vasant Prabhu commented on the investment in Blockchain capital its fund, saying, “We’re focused on enhancing all forms of money movement, whether on the Visa network, or beyond.” The relationship with Blockchain Capital bolsters Visa’s efforts to “shape and support the role that digital currencies play in the future,” he added.

Meanwhile, Jose Fernandez da Ponte, vice president, general manager of blockchain, crypto and digital currencies at PayPal, explained why they invested in the fund, by stating “PayPal is committed to fostering an ecosystem of companies making digital currencies more accessible, useful and secure.”

About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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