Blockchain Capital Secures Over $13M During Second Venture Fund; Announces New Advisory Board Members

On Wednesday, venture capital firm Blockchain Capital  announced the final closing of its second fund with over $13 million in committed capital surpassing its funding target of $10 million. With commitments totaling over $15 million since the firm’s inception in 2013, Blockchain Capital is an industry pioneer and leader in financing Blockchain technology companies and the Bitcoin ecosystem.

blockchain CapitalBlockchain Capital’s initial fund with 30 portfolio companies was the first venture fund dedicated to investing in the sector. The company has been investing out of the second fund throughout 2015 and has already invested in 23 Blockchain technology companies.

Co-founder and managing partner of Blockchain Capital, Brad Stephens, stated:

“We are excited to announce the closing of our second fund so that we can continue to support world-class entrepreneurs who are leveraging Blockchain technology to disrupt legacy industries and create new products and services around the globe.”

Co-founder and managing partner of Blockchain Capital, Brock Pierce, commented:

“Equity crowdfunding is a disruptive innovation in financial services that democratizes and decentralizes venture capital. As an early adopter of platforms like AngelList, we are thrilled to combine forces with Gil Penchina who is the leading investor on AngelList.”

Co-founder and managing partner of Blockchain Capital, Bart Stephens then added:

Bart Stephens“The pace of innovation we are seeing in Fintech, in general, and Blockchain technology in particular, is staggering. We are profoundly grateful for the support from our limited partners who are CEOs, family offices, technology executives, hedge fund managers, entrepreneurs and other venture capitalists. Sophisticated investors appreciate that this industry is complex and moving quickly, that specialization is important. They value our focus, deal flow, expertise and unparalleled network of advisors.”

In conjunction with the closing of the fund and launch of the expanded AngelList syndicate, Blockchain Capital announced the appointment of Advisory Board members representing expertise in technology, financial services, entrepreneurship, legal services and regulatory issues:

  • Alison Davis (Chairman): Former CFO of Barclays Global Investors; Director Royal Bank of Scotland; Director Fiserv; Director Diamond Foods; (fmr) Director Xoom and First Data Corp.
  • Terry Schwakopf: Senior Advisor at Deloitte; (fmr) EVP Federal Reserve Bank of San Francisco, banking supervision
  • John Wolpert: Global Blockchain Offering Director, IBM
  • Bobby Lee: CEO, BTCC; Director Bitcoin Foundation
  • Mary Cranston: Director, Visa; (fmr) Chairman & CEO Pillsbury Winthrop
  • Simon McNamara: CAO, Royal Bank of Scotland
  • Niccolo De Masi: CEO, Glu Mobile
  • Michael McAdam: CFO, Union Bank (Mitsubishi UFJ Financial Group)
  • Vinny Lingham: CEO, Gyft (acquired by First Data)
  • Charlie Lee: Founder, Litecoin; Director of Engineering, Coinbase
  • Chris Pallotta: Partner, Raptor Capital; Advisor, MIT Media Lab
  • Will O’Brien: Co-Founder, BitGo
  • Matt Ocko: Partner, Data Collective

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