Blossom Capital, a London-based venture capital firm launched in 2017 as a generalist investor, is now aiming to spend much more money in the cryptocurrency business.
Blossom unveiled a new USD 432 million fund this morning. The funds will go to European entrepreneurs seeking Series A capital in a variety of industries, including consumer, cybersecurity, developer tools, enterprise software-as-a-service, finance, and marketplaces. According to the company’s release, a complete third of the funds would be invested in crypto-powered enterprises.
Blossom does not appear to have a track record of investing in crypto companies, with the exception of MoonPay, which it supported in November last year when the crypto payments startup received USD 555 million at a USD 3.4 billion valuation.
But Brown says Blossom’s USD 185 million-sized second fund has quietly been investing in tokens and even NFTs, without showcasing those bets in the way a standard equity investment would be. She adds that the company has invested a lot of time and resources in developing the infrastructure needed to invest in web3 organizations.
