Blockchain Capital, renowned venture capital in the crypto market, has recently closed a deal raising $300 million funds. According to the firm, the offering is heavily oversubscribed, and investors from pension funds and significant university endowments backed the funding.
Two of the backers were PayPal and Visa. These two companies are known to have increased their presence in the crypto industry. Recently, PayPal has launched a new feature where users in the US can buy and sell crypto on its platform. Although the feature is only limited, it’s only a matter of time before we see PayPal’s crypto services expanding.
Blockchain Capital also shared, “Select investors in Fund V will be participating in Blockchain Capital’s strategic partnership program – including PayPal and Visa. Blockchain Capital is able to leverage its industry-leading network, research capabilities, and industry contacts to benefit these payments companies as well as Blockchain Capital’s portfolio companies.”
PayPal’s participation in the said fundraising will not just help Blockchain Capital but as well as its blockchain ventures. Both of the companies will create a more significant impact together. Visa, on the other hand, had already started its crypto ventures a few years ago. This partnership with Blockchain Capital will enable the card issuer to stretch its resources while keeping track of its crypto businesses.