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Blossom Capital supports crypto start-ups

 


The crypto industry is growing. Start-ups are springing up and there is also growing interest on the financing side. European crypto founders can hope for a grant from Blossom Capital in the future.


Blossom Capital has its eye on the crypto space. The London-based venture capital firm plans to invest a third of its new $432 million fund in blockchain-related startups.


On Jan. 18, Blossom went public with information about his new mutual fund. The company's third venture capital fund targets European tech start-ups that are in the early A round of financing. The fact that the fund is also targeting the crypto industry in addition to investments in cyber security and other software solutions can certainly be read as a leap of faith. Because in an interview with Bloomberg , Alex Lim, managing partner at Blossom, explained that his company's "investment horizon" was designed for 10 years. Even if some start-ups are overvalued in the short term due to an alleged crypto hype, the blossom does not prevent them from committing.


Blossom wants to invest in crypto infrastructure

However, the recent plans are not Blossom's first foray into the crypto world. In November, the company, which was founded in 2018, participated in the successful Series A financing round of the crypto trading start-up MoonPay . MoonPay took in $555 million at the time. The value of the payment service provider, which enables the purchase of Bitcoin and Co. by credit card, has since been estimated at 3.4 billion US dollars.


Ophelia Brown confirmed to Bloomberg that similar investments in crypto platforms and blockchain infrastructures can now be expected from Blossom . The managing partner said:


Not only do we want to invest in crypto assets, we also want to invest in companies in the early stages of developing crypto infrastructures.


Blossom holds NFTs and other tokens

As suggested in Brown's "not only" above, Blossom isn't just involved on the venture capital side of the crypto market. Because Brown admitted in an interview with the news portal The Block that her company had quietly and secretly built up crypto reserves:


We hold tokens. We will get in touch with the core protocols. We will do much more of what we have already done


, the partner gave to understand. As a result, Blossom initiated the purchase of cryptocurrencies with his second $185 million investment fund. However, Brown did not want to reveal exactly which tokens Blossom now holds in its portfolio. The only thing that is certain is that NFTs are among them. Brown further explained that her company dedicated a great deal of time and resources to make such investments.



Away from the crypto space, Blossom participates in the payment service provider Checkout and in Freshly, a manufacturer of natural cosmetics.

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