Crypto Asset Manager BlockTower Launches $150M Venture Capital Fund: Report
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, according to The Block. 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, according to The Block.
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, according to the report. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance.
BlockTower did not immediately respond to a request for comment.