Focused on cryptocurrencies Blockchain Capital has raised $580 million through two new funds, making it one of the largest fundraisings for the asset class this year and the largest for a venture capital firm in its ten-year history.

According to general partner Kinjal Shah, “Blockchain Capital, which has $2 billion in assets under management, will use the new capital to support crypto startups in sectors like decentralized finance and gaming, as well as infrastructure.”

Blockchain Capital, a San Francisco-based company, has previously invested in Worldcoin, the cryptocurrency exchange Kraken, and the non-fungible token market OpenSea.

Blockchain Capital will continue to invest in tokens despite the legal controversy over whether cryptocurrencies are deemed securities, Shah said. “Despite the sharp decline in NFT sales and prices, there is still opportunity in the category,” he added.