Since it started on August 25, Bloccelerate VC Fund II has already gotten $20 million from 26 investors. Even though this is only a fifth of the goal, it is already more than the firm’s $12 million start-up fund in late 2020.
Online News Crypto correspondence asked Seattle-based Bloccelerate for a comment, but had not heard back by the time the paper went to press.
Bloccelerate puts money into seed funding rounds, Series A funding rounds, and tokens. Due to the bear market, global venture capital investments in the crypto industry were down 26% from the same time last year to the first half of 2022. However, the number of deals stayed healthy, which could mean that there were more small deals.
Bloccelerate was started in 2018. General partners Kate Mitselmakher and Sam Yilmaz are in charge of the company. The firm’s website says that it has invested in the collaborative lending platform MakerDAO, the Avalanche blockchain, and the blockchain security company Quantstamp.