Amsterdam-based Theta Capital Management has established its third Theta Blockchain Ventures (TBV III) fund to focus on core blockchain infrastructure during the early stages of development. With a 10-year investment focus on seed stage blockchain technology, TBV III aims to capitalize on the rapidly growing digital economy and increasing adoption of blockchain technology.
The firm’s Fund of Funds program, through which TBV III operates, invests in crypto-native venture capital and has deployed over $500 million so far, backing many leading companies and protocols.
The investment thesis for TBV III is that crypto protocols are becoming the financial backbone for a digital world, and that the technology is ready for mass adoption.
John van Marle, Theta Capital’s Partner Marketing & Origination, believes that blockchain technology has immense long-term value and that the firm’s diversified approach to investing is well-suited to the current market environment. He feels there is a current opportunity to build diversified exposure to blockchain technology despite localized risk in the crypto ecosystem.
According to Van Marle, there has been a disconnect between technological progress and investor sentiment. The poor macro backdrop and actions of bad actors have contributed to low sentiment, but for Theta Capital, it provides an opportunity to further establish its presence in the industry.
Theta Capital Management was founded in 2001 and has been among the largest institutional investors in the blockchain and cryptocurrency space. Its expertise has made it a preferred partner of many crypto-native venture capital firms and underlying crypto projects. Through its series of blockchain venture funds, Theta has exposure to over 80% of leading crypto projects from an early stage.
Its portfolio includes some of the most influential players in the DeFi space such as Aave and Uniswap, as well as blockchain infrastructure startups like Chainlink, Solana, and Avalanche. Additionally, Theta Capital has invested in leading cryptocurrency exchanges including Gemini and CoinDCX. These investments have helped drive innovation and growth in the crypto space, establishing Theta Capital Management as a major player in the industry.
Overall, the firm believes that crypto protocols are becoming the financial backbone of a digital world and that now is the time to build diversified exposure to the technology. The final close for Theta Blockchain Ventures III is planned for March 31st, solidifying Theta Capital’s position as a leading institutional investor in blockchain technology and its commitment to capturing exposure to the best in class crypto projects from an early stage.
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