Blockchain Capital rebrands, launches post-investment support program

Quick Take

  • The San Francisco-based VC firm is setting up a new department named BCAP Build to support its portfolio companies in talent management and go-to-market strategy.

Blockchain Capital, one of the longest-running VC firms in the crypto space, launched today a new program to focus on post-investment support for founders while rebranding its website to showcase its network of portfolio companies.

Kinjal Shah, a general partner of Blockchain Capital, told The Block in an interview that the new program, dubbed Build, will focus on talent, go-to-market strategy and its partner network.

“It's become increasingly important to make sure founders understand that we're not just a capital provider, but there's quite a bit that we're working to do to ensure a company's growth and long-term success,” Shah said.

Founded in 2013, Blockchain Capital now has $1.9 billion in assets under management and is actively investing out of its sixth multi-stage fund, according to a statement shared with The Block.

Tokenomics matters

Blockchain Capital, whose recent investments include Worldcoin, is keen to help founders with their projects’ token design as part of the new Build program, according to Shah.

“It's really critical to us to sort of think about the second-order effects of whatever token design that you have,” Shah said. “I wouldn't say that there's like one model there, but understanding how the token plays a role within that particular ecosystem of protocol, making sure we understand how it captures value, [and] what are sort of like the long-term levers that can be pulled.”

She added, “Is it inflationary? Is it deflationary? What is the supply look like and how is that circulating across the token holders? What's the incentive to hold the token? What's the incentive to use the token? I think all of these questions are ones that we're really making sure we go over with our portfolio company.”

International presence

Shah noted that the VC firm has seen growing interest among U.S.-based startups to expand overseas.

“We're seeing more and more companies establish an international presence if they are based in the U.S.,” she said. “That's very much part of a regulatory strategy to preserve optionality around where they're based and seeking a jurisdiction that has a little bit more regulatory clarity.”

Bart Stephens, founder and managing partner of Blockchain Capital, told The Block in May that the company is weighing the benefits of several en vogue international crypto hubs amid a sector crackdown by authorities in the U.S.

Shah said that roughly 60% of its portfolio companies are based in the U.S.

“We really have seen the full gamut in terms of companies getting established in Europe and Asia and other potentially nice, friendlier jurisdictions,” she added.

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