Blossom Capital is just the latest VC firm to dive deeper into crypto. Up to a third of its new $432 million fund will be dedicated to crypto startups, the London-based firm said Tuesday. The fund will be focused on European startups at the Series A stage.
The firm launched its first fund in 2019 and decided to start investing in crypto at the start of 2021, Ophelia Brown, a managing partner at Blossom Capital. She told The Information that growing adoption of digital currencies and the rising number of European founders with a crypto focus helped push Blossom Capital into the space. One of the firm’s portfolio companies, Checkout.com, has also found success in crypto. The payments processor’s clients include major crypto exchanges like Coinbase, FTX and Crypto.com, as well as crypto payments startup MoonPay.
