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Blossom Capital to support crypto-powered firms with $432 third fund

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Blossom Capital
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  • The funds from the Venture Capital firm, Blossom Capital, would be headed to European startups, the majority of which will be crypto-powered firms.
  • They have NFTs but won’t disclose what, the Managing partner Ophelia Brown said.
  • Some of its largest allocators already have positive thoughts on crypto. 

Blossom Capital, a Venture Capital firm founded in 2017, made an announcement this morning that indicates its interest in growing via cryptocurrency. 

This morning Blossom Capital announced a raise of its $432 million funds, its third till date. It has become the largest investor concentrated on Series A funding. According to the announcement made by the company, the cash from its third funding will be headed to European Startups looking for Series A capital across an array of sectors. These sectors will include cybersecurity, developer tools, consumer, marketplaces, software-as-a-service, and fintech. But the whole third of it will be invested in firms powered by crypto.  

Blossom Capital Founder’s say on this

According to Ophelia Brown, the founder, and the managing partner of the company, they hold tokens, and they will have exposure to the core protocols. And she also said that they are going to do a lot more than their work done before.

Although Blossom Capital doesn’t have a lot of track record when it comes to cryptocurrency businesses, last year in November, Blossom participated in MoonPay’s funding round, when this crypto payments firm was valued at $3.4 billion after raising $555 million.

But according to Brown, their second funding round was $185 million. And this fund has been softly investing in tokens and NFTs, which aren’t showcased in a way a standard equity investment should be. Further, she said that Blossom has been putting time and resources in order to develop the infrastructure needed for Web3 organizations. She indicated having NFTs, but she won’t disclose them. And that she believes in the positives of these communities. 

Lately, Blossom is trying to gain a crypto-focused partner to initiate their endeavours in the sector.


About Blossom’s Fintech Bets

Brown is focused on her firm’s bets on fintech. In November 2019, Blossom participated in Checkout(dot)com’s fundraising, a global payment solution provider, and this startup raised $230 million. And Checkout’s value has taken a flight from $2 billion to $40 billion since then. 

While working as a principal for Index Ventures, an investment firm, Brown tried, though unsuccessfully, to get the firm to buy into 2014 Ethereum’s presale. According to OpenSea records, her profile picture on Twitter of a Cryptopunk was purchased by her for 98 ether in December. These things direct her interest in the crypto world.  

She added that having the firm’s Limited Partners for substantial crypto exposure was not a problem. For the third, they have some of the world’s most significant endowment funds along with a majority of LPs from the second one. Some of the biggest fund providers positively approach the crypto world. 

The majority of this fund allocation is for crypto-powered firms, which seems to be a good opportunity to grow. And big companies like Blossom Capital and prominent personalities contributing to the promotion of crypto-related things are only in favour of broader crypto adoption. 

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