VC Firm Bloccelerate Raises $100M For Second Fund

According to a filing with the U.S. Securities and Exchange Commission (SEC) on Friday, venture capital company Bloccelerate seeks to raise $100 million for its second fund. Since the fund’s launch on August 25, the Bloccelerate VC Fund II has already collected $20 million from 26 investors. Although only one-fifth of the goal, the sum now exceeds the company’s $12 million initial investment by late 2020. Bloccelerate makes investments in seed and Series A fundraising rounds. Due to the bear market, global venture capital investments in the cryptocurrency sector decreased 26% year over year in the first half of 2022, but the number of agreements remained solid, pointing to an increase in smaller deals. Bloccelerate was established in 2018 and run by general partners Sam Yilmaz and Kate Mitselmakher. According to the company’s website, it previously invested in the blockchain security company Quantstamp, the Avalanche blockchain, and the collaborative financing platform MakerDAO. $14.2B Investment in H1 2022 A few days ago, venture capital (VC) firms made 725 agreements worth $14.2 billion in cryptocurrency investments in the first half of 2022. KPMG, one of the Big Four accounting firms, predicted that investments would probably fall for the remainder of the year. According to KPMG reports, the German crypto trading platform Trade Republic ($1.1 billion), the Ethereum software provider ConsenSys ($450 million), the crypto exch...