Blossom Capital, founded by Ophelia Brown, has raised $432 million to invest in early-stage internet firms in Europe.
She stated that a third of the funds received would invest in cryptocurrencies.
Blossom Capital, which is supported by women, hopes to increase its crypto investments by investing in platforms that will serve as a safe way to wager on the ecosystem.
Blossom, based in London, has already invested in Checkout.com, an online payments company valued at $40 billion in a capital round earlier this month, making it one of Europe’s most valuable startups. Pigment, a business forecasting tool, and Tines, a cybersecurity automation startup, are among the other investments.
The company’s largest current investment is in MoonPay, a crypto-payments company that raised $555 million in November for a valuation of $3.4 billion.
According to Bloomberg, despite the volatility of the crypto market, numerous venture capitalists are placing big bets on it because they believe the sector is morphing into an unstoppable juggernaut.
Managing partner Alex Lim said,
“The word is out about crypto and the innovative applications that can be built around the Blockchain, so that could inflate values for early-stage companies. But our investment horizon is a decade long, and we are less concerned about day-to-day volatility.”
According to Bloomberg, more money was invested in the cryptocurrency business in 2021 than combined in the previous ten years.
According to PitchBook Data, venture capital funds invested over $30 billion in the bitcoin industry in 2018, about four times the previous peak.