Thea Capital Management-based Amsterdam raised more than $ 175 million for the latest funding-funding, aimed at supporting blockchain startups through specialized venture capital (VC) companies.
The new vehicle, Theta Blockchain Ventures IV, will release capital to VC-King VC companies with track record back blockchain innovative, management of Theta’s partner and chief investment official Ruud Smets said Bloomberg.
Smets said the approach was dedicated to specialist managers who could exceed Generalist investors at the very first funding.
“We are always looking for places where expert and active management provide a sustainable edge,” the smets said. He said the experience and positioning of dedicated Crypto VCS “has been combined with over time,” creating barriers for less focused investors trying to enter into space.
Established in 2001, Theta moved its focus to digital assets in 2018 and is now in charge of approximately $ 1.2 billion. The firm has previously been backing the leading crypto investment names such as Polychain Capital, Coinfund and Castle Island Ventures.
Related: AI takes about 60% of Global Venture Capital Dollars in Q1
The Crypto VC has been rebounding
The nearby funds will come as the crypto venture capital rebound begins. According to Galaxy Digital, VC investment in digital assets Rose 54% in the first quarter 2025 to $ 4.8 billion, which signed the renewal of the sector’s confidence after a prolonged collapse.
Another report from the pitchbook revealed that Crypto Venture Capital funding has increased In early 2025, even the deal activity refused.
The report showed that 405 VC deals were completed in Q1 2025, a 39.5% collapse from 670 recorded at the same time last year. However, that is a moderate raid from the 372 deals seen in Q4 2024.
Despite fewer deals, total funds more than double the year-on-year, reaching $ 6 billion in Q1 compared to $ 2.6 billion in Q1 2024 and doubling from $ 3 billion of the previous quarter.
Pitchbook’s senior crypto analyst Robert Le said that even in the midst of macroeconomic uncertainty, “Capital is constantly looking for major crypto utilities.”
Most investment – around $ 2.55 billion over 16 deals only – went to asset management companies, Crypto’s trading platforms and financial services. Infrastructure and development companies followed, raising nearly $ 955 million in the entire 30 deals.
Related: Crypto startups scare VCs with 80x values: 10T Holdings
Circle IPO can be next crypto benchmark
Pitchbook also said Expected IPO by the Circle It could have been the most significant event in crypto equity pricing since Coinbase’s 2021 debut.
If the Circle ensures an appreciation above the rumored $ 4 to $ 5 billion range, it can therefore be an audience in the new final stages of capital and reset appreciation expectations up to infrastructure payments and stacks, “Le.
With $ 1.18 billion in VC funding up to date, the pitchbook estimated a 64% chance that the circle would eventually go public.
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