Theta Capital has launched its fourth Theta Blockchain Ventures vehicle to invest in core blockchain infrastructure at the earliest stages.
Theta Blockchain Ventures IV is a continuation of Theta’s fund of funds programme investing in crypto-native VCs. The firm has deployed over USD650 million to date and writes that it has backed many leading companies and protocols from the earliest stages through its wide network of specialised VC firms. Through its series of blockchain venture funds, Theta has been capturing exposure to over 80 per cent of the leading crypto projects, all from an early stage.
Ruud Smets, CIO, Theta Capital, says: “We have turned the corner on the 2022/2023 crypto winter and are at the start of the industry’s fifth price-innovation cycle. We think there is a generational investment opportunity available now to invest in the future of blockchain infrastructure.”
The first close of the fund will be on 1st April 2024. Theta is targeting a total of USD200 million in commitments with subsequent monthly closings leading up to an expected final close on July 1st 2024.
The launch of the fund follows Theta’s recent publication of a report on the future of investment in blockchain technology, “The Satellite View”. The report features insights and outlooks from crypto’s leading experts including many of the crypto-native venture funds Theta invests in.
The report argues that “blockchain technology is the foundation enabling the next evolution of the internet. It will propel our financial systems and commerce into the digital age, much as the previous generation of internet protocols revolutionised information and media.”
