Social Discovery Ventures (SDVentures), an international technology and investment group with Russian roots, has contributed $2 million to a new $150 million fund launched by Blockchain Capital. The news was reported in late March by Russian online publication Firrma.ru based on its exchanges with SDVentures.
Founded in 2013, San-Francisco based Blockchain Capital touts itself as a “the pioneer and premier venture capital firm focused exclusively on the blockchain technology sector and crypto ecosystem.” The firm has so far invested in no less than 72 blockchain projects, including Coinbase, Ripple, Circle, Ethereum and Kraken.
SD Ventures founder Dmitry Volkov, a Russian-American serial entrepreneur, explained that Blockchain Capital was chosen as “the most experienced market player.”
The new fund, dubbed ‘Blockchain Capital IV,’ will mostly focus on equity investment in blockchain startups and crypto assets.
Currently SDVentures is seeking to deepen its expertise in blockchain investment, notes Firrma.ru. So far the fund mostly focused on classic venture investment — the latter accounts for a significant part of the total of the fund’s $550 million under management. For the past five years, the company has invested around $50 million into venture funds operating on the US and European IT markets. These include Mangrove Capital (injecting $3 million in its new fund), Target Global, iTech, DN Capital and Gagarin Capital Partners.
The fund has also invested in some 50 startups, including AirDog, TripTogether, Dating.com, LinguaLeo, Layer and Academia. SDVentures brings together tech companies and software developers in New York, Hong Kong, Minsk, Riga and Moscow.
