VC Firm Bloccelerate Raises Funding For Future Startup Blockchain Investments

By Thomas Price Tuesday, January 19, 2021

Of the many different trends that have taken hold in the financial world in the form of investments, cryptocurrency has become one of the largest. With universal acceptance, a level of anonymity, and for certain ones like Bitcoin, skyrocketing value, the cryptocurrency world is growing extremely fast. As a result, blockchain databases and technology are spreading along with it. So much so that blockchain startups are springing up left and right to hopefully find success in the industry before it explodes. This in turn has led to a need for funding to get these startups off the ground which is where Bloccelerate comes into play. Bloccelerate is a venture capital fund created specifically to invest in blockchain companies and any startup that recently raised money for their first fund. So, how does Bloccelerate work, what kind of money did they raise, and what startups do they plan to invest in?

What is Bloccelerate?

Bloccelerate is a venture fund based out of Seattle that is focused on investing in blockchain startups in North America and Europe. The main goals of Bloccelerate break down into 4 different objectives: funding startups, crypto-economics support, sourcing developer talent, and providing access to CxO advisors and enterprise buyers. When it comes to funding, Bloccelerate looks for early stage investing between $100,000 and $1.5 million into new startups.

In terms of crypto-economics support, Bloccelerate provides direct support with token incentive and ancillary structures. As for developer talent and access to advisors and buyers, the company has a pool of 500 blockchain developers and significant resources while also being in contact with experts and advisors. The startup categories that Bloccelerate plans to invest in are blockchain platforms, blockchain applications, and blockchain ecosystem startups.

As it currently stands, Bloccelerate has already invested in 5 different startups including names such as Blockapps, Symbiont, and MakerDAO. The main uses of blockchain technology are in the field of cryptocurrency, but the market is looking like it will be growing into several different industries. One of the main ones outside of cryptocurrency is the healthcare industry which is looking to use blockchain to create a more efficient internal data system, while still maintaining high levels of security and privacy for patients. This sort of expansion of the technology is precisely why a venture fund like Bloccelerate exists in the first place. It is also the reason that Bloccelerate was able to raise capital for their fund from a variety of different sources with relative ease.

Bloccelerate’s Raised Capital and Future Plans

With the help of 45 limited partners, Bloccelerate raised $12 million of capital. Of the limited partners, many of them were family offices, individuals with high net worth, and one was a corporate investor. Bloccelerate has significant plans for investment of this newly raised capital as well. In fact, the venture fund plans to use the money to invest in 10-15 early stage blockchain startups which they think have significant potential for future growth.

Bloccelerate believes that cryptocurrency is only the initial use for blockchain technology, and that the field is going to expand dramatically in the coming years. With that in mind, the venture fund is trying to collect a significant amount of money which can be used to then support the many startups trying to create new and creative ways to use blockchain. This recent $12 million will be invested in several different startups and will certainly help them continue to develop and expand their own business. The money the company has raised can quite possibly be one of the major support systems for these early stage startups to get off the ground and thrive in the future.

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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