With the support of BPI France, New York-based BlockTower is launching a $150 million fund to invest in the blockchain and crypto sector.
BPI France is a public investment bank that is a French business financing and development organization that has already invested in some crypto projects like Kryll.
Supported by Mass Mutual, VanEck Equities, Circle, Mass mutual or the public investment bank BPI France, the fund operated, discreetly, since last December and focuses its investments in DeFi projects and blockchain infrastructure through sales of shares but also digital coins.
BlockTower has raised the full amount in just a few weeks, according to Thomas Klocanas, the company’s general partner. The fundraising occurred in the fall of 2021.
The investment fund says it is ready to invest $500,000 to $6 million in promising blockchain projects, with the company targeting a stake of 5% to 10% on the equity side or 2% to 5% on the token side, Thomas Klocanas tells The Block media.
This year, BlockTower made an investment in Aptos, a startup founded by Meta alumni that is developing an L1 blockchain. The VC has also invested in projects like Goldfinch, Ren labs and Lighthouse Labs.
