Venture capital firm Blossom Capital has raised $432m for a new fund as it looks to tap into high-growth tech firms.
The new Fund III will exclusively target early stage funding rounds with a particular focus on areas including tech, cybersecurity and fintech, the firm said today.
Bosses have also committed a third of the new fund’s investments to crypto startups in a move they say will allow it to tap into crypto’s transition “to a mainstream asset class”.
Managing Partner Ophelia Brown said: “We’re delighted to welcome some of the world’s top endowments into Fund III. They share our conviction that early-stage capital can have outsized impact on the trajectory of a company.
“We believe European founders choose Blossom because of our local roots, global connections, and relentless focus on helping them scale their company from the Series A.
She added that the new fund would build on the firm’s “high-conviction strategy” of funding to businesses.
Blossom has recently bolstered its leadership team as it looks to ramp up investment, adding Managing Partner Alex Lim, whose previous investments feature Discord, Hopin and UiPath, and Talent Partner Kim Goddard who has worked at firms including Facebook and Nubank.
The firm now manages assets of almost $1bn and the portfolio includes payments firm Checkout.com, and crypto firm MoonPay.