London-based venture capital (VC) firm Blossom Capital has raised a $432 million fund to invest in early-stage technology startups in Europe, including crypto.
Blossom III would be the largest Series A fund in Europe, the firm said in a press release on Tuesday. The VC has earmarked one-third of the fund for crypto investment.
Bloomberg had earlier reported on the new fund.
Blossom Capital was founded in 2019 by managing partner Ophelia Brown and has raised a total of around $1 billion. The firm, which has a team of six, also added Alex Kim as managing partner recently.
“We aren’t looking to just invest in crypto assets, we are also eyeing equity stakes in early-stage companies developing crypto infrastructure,” Brown said in the Bloomberg report.
One of Blossom Capital's most notable investments in the crypto sphere is payments infrastructure company Moonpay. In November, Moonpay raised $555 million at a valuation of $3.4 billion.
The round was led by Coatue and Tiger Global with participation from Blossom Capital, Paradigm, NEA and Thrive.
The VC has also invested in video scaling platform api.video, automation firm Aurelia, and payments portal Checkout.com, according to its website.
UPDATE (Jan. 18, 09:09 UTC): Updates the sourcing throughout the story, adds further details from Blossom.