Europe’s largest Series A investor raises $432m to focus on crypto

London-based Blossom Capital has closed a new fund of $432m to back early stage startups

Three members of the Blossom Capital team sitting on a sofa. Left to right: Alex Lim, Ophelia Brown and Imran Ghory                                 
Left to right: Alex Lim, Ophelia Brown and Imran Ghory – Photo: Blossom Capital
                                

London-based Blossom Capital has closed a new fund of $432m (£316m) to advance its mission of backing visionary startups and founders looking for early -stage funding.

The fund, which is Blossom’s third, places the venture capital firm among the top one percent of funds globally. Blossom manages assets of almost $1bn with its portfolio companies ranging from a selection of global fintech players such as Checkout.com and MoonPay.

Betting on crypto

While typically a fintech venture firm, Blossom said that the fund will target around one third of its value into backing crypto startups, reflecting the mainstream adoption of cryptocurrencies and its use from a niche financial tool to a mainstream asset class.

Blossom has now raised close to $1bn in three years, making it the largest emerging VC in Europe. 

Ophelia Brown, Blossom’s managing partner, said: “We’re delighted to welcome some of the world’s top endowments into Fund III. They share our conviction that early-stage capital can have outsized impact on the trajectory of a company. 

“With this new fund we are continuing with our high-conviction strategy of providing foundational capital to entrepreneurs, so their Series A creates an undeniable strategic advantage.”

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