Fri. May 20th, 2022

The firm has earmarked one-third of the capital for crypto investments.

London-based venture capital (VC) firm Blossom Capital has raised a $432 million fund to invest in early-stage technology startups in Europe, including crypto.

  • Blossom III would be the largest Series A fund in Europe, the firm said in a press release on Tuesday. The VC has earmarked one-third of the fund for crypto investment.
  • Bloomberg had earlier reported on the new fund.
  • Blossom Capital was founded in 2019 by managing partner Ophelia Brown and has raised a total of around $1 billion. The firm, which has a team of six, also added Alex Kim as managing partner recently.
  • “We aren’t looking to just invest in crypto assets, we are also eyeing equity stakes in early-stage companies developing crypto infrastructure,” Brown said in the Bloomberg report.
  • One of Blossom Capital’s most notable investments in the crypto sphere is payments infrastructure company Moonpay. In November, Moonpay raised $555 million at a valuation of $3.4 billion.
  • The round was led by Coatue and Tiger Global with participation from Blossom Capital, Paradigm, NEA and Thrive.
  • The VC has also invested in video scaling platform api.video, automation firm Aurelia, and payments portal Checkout.com, according to its website.

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