Crypto Asset Manager BlockTower Launches $150M Venture-Capital Fund

BlockTower has also created a new venture-capital arm.

By Brandy Betz

Oct 13, 2022 at 4:36 p.m. UTC

Updated Oct 13, 2022 at 9:33 p.m. UTC

venture capital — BlockTower has launched a venture-capital arm with a $150 million fund. (CoinDesk archives)

Brandy Betz

Brandy covers crypto-related venture capital deals for CoinDesk.

Follow @BrandyBetz on Twitter

Crypto-focused asset-management firm BlockTower has launched a venture capital arm with a new $150 million fund to back decentralized-finance (DeFi) and blockchain-infrastructure projects. The fund has operated in stealth since December and counts BPI France and MassMutual among its financial backers.

The new venture-capital arm will be led by general partner Thomas Klocanas, a veteran of investment firm White Star Capital, who confirmed the fund details during a call with CoinDesk.

BlockTower is one of several notable crypto investment firms that is a registered investment advisor (RIA), which gives the firm more flexibility particularly when it comes to liquid and illiquid token investments. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance.

The Block was the first to report on news of the launch.

UPDATE (Oct. 13, 21:33 UTC): Adds BlockTower confirmation and removes 'Report' from the headline.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.