Crypto asset manager BlockTower has a new VC arm and $150 million fund led by Thomas Klocanas, who talked DeFi, equity stakes and bear market investing. BrandyBetz reports
Crypto asset manager BlockTower Capital revealed a new venture capital arm this week and lifted the veil on a $150 million fund that opened last December and was fully subscribed in a matter of weeks. What motivated one of the original crypto-native asset management brands to enter the VC world, and what will those investments look like amid crypto winter?
“We wanted to have something to announce more than just that we raised money,” Klocanas told CoinDesk in an interview. “Here we are 10 months later with a fully fledged team that we’re super proud to reveal to the world, a network of venture partners that will be announcing in the coming weeks, a portfolio of a couple of projects, and a vision we have now validated with our portfolio.
“In DeFi, we’re spending a lot of time at the intersection of DeFi and credit,” said Klocanas. “We’re thinking about mobile infrastructure, about privacy infrastructure. We are starting to think about the Web3 consumer social layer. We’re super interested in the future of decentralized governance in crypto and beyond.”
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