{"id":68586,"date":"2022-10-14T13:42:33","date_gmt":"2022-10-14T10:42:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68586"},"modified":"2025-09-07T14:56:58","modified_gmt":"2025-09-07T11:56:58","slug":"blocktower-raises-150-million-for-web3-focused-venture-fund","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blocktower-raises-150-million-for-web3-focused-venture-fund\/","title":{"rendered":"BlockTower raises $150 million for Web3-focused venture fund"},"content":{"rendered":"<p>Crypto company BlockTower Capital quietly launched a $150 million venture fund for the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a> industry, per <a href=\"https:\/\/www.theblock.co\/post\/176654\/blocktower-launches-150-million-fund-backed-by-bpi-france-and-mass-mutual\">The Block<\/a>.<\/p>\n<p>The structure has been operating since December 2021 under the leadership of partner Thomas Klockanas. He previously ran the digital assets fund at <a href=\"https:\/\/u1f987.com\/en\/news\/white-star-capital-launches-a-150-million-fund-for-web3-investments\">White Star Capital<\/a> in the amount of $50 million.<\/p>\n<p>According to him, BlockTower raised funds from investors within \u201ctwo-to-three weeks.\u201d<\/p>\n<p>The partners of the vehicle include Mass Mutual, VanEck Equities, BPI France, Circle and the Teacher Retirement System of Texas.<\/p>\n<p>The fund has already made its first investments, including <a href=\"https:\/\/u1f987.com\/en\/news\/binance-backs-aptos-project-by-former-meta-staff\">Aptos<\/a>, Lighthouse Labs and Maple Finance. Klockanas noted that the venture vehicle is a \u201cmethodical\u201d investment approach.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are currently oriented toward deployment timelines for projects at roughly three years. You can see capital in the industry moving quickly\u2014somewhere in two months. This is because the market is overheated,\u201d he said.<\/p>\n<\/blockquote>\n<p>The fund plans to deploy capital across 20-25 portfolio companies. Investment sizes are expected from $0.5 million to $6 million. The firm aims for 5-10% ownership in startups\u2019 equity or 2-5% in tokens.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhy such figures? They scale well from the portfolio-math perspective to ensure winners deliver returns for the losers. The figures also scale in the Web3 capitalization table,\u201d explained Klockanas.<\/p>\n<\/blockquote>\n<p>The firm regards its status as a registered investment adviser as a competitive edge. It enables unrestricted investment in tokens or stock on the secondary market. The absence of such registration would cap investments at no more than 20% of capital in \u201cnon-qualified investments,\u201d which include cryptocurrencies.<\/p>\n<p>Earlier in September, British venture firm Northzone announced that <a href=\"https:\/\/u1f987.com\/en\/news\/northzone-raises-e1bn-for-web3-focused-investment-fund\">raised \u20ac1 billion<\/a> for a crypto- and fintech-focused fund.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlockTower Capital quietly launched a $150 million venture fund for the Web3 industry, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":68587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1556,1133],"class_list":["post-68586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blocktower-capital","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68586"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68586\/revisions"}],"predecessor-version":[{"id":68588,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68586\/revisions\/68588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68587"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}