Theta Capital Administration plans to lift $200 million for its newest blockchain funds-of-funds. The corporate mentioned it’s elevating funds to capitalize on early-stage blockchain alternatives regardless of enterprise funding within the sector remaining subdued.
In line with the corporate’s report, its new car, Theta Blockchain Ventures V, will distribute the capital to between 10 and 15 enterprise companies specializing in digital property. Theta Capital additionally goals for a internet inside fee of return of 25% from the funding.
Theta continues its Blockchain Enterprise collection
Bloomberg reported {that a} spokesperson from Theta Capital confirmed the small print of the $200 million capital elevate. The Amsterdam-based funding agency was based in 2001 and shifted its focus to digital property in 2018. The funding supervisor presently manages about $1.2 billion.
Theta Capital beforehand had 5 funds within the Theta Blockchain Enterprise collection, and it managed to ship a 32.7% internet IRR from January 2018 by means of December 2024. The funding supervisor’s portfolio consists of marquee crypto VCs, together with Pantera Capital, CoinFund, Polychain Capital, and Dragonfly.
Theta closed a $175 million funding spherical in Could to help its blockchain fund-of-funds initiatives. The agency believes that focusing on managers deeply concerned in blockchain expertise creates a aggressive edge available in the market.
The corporate’s managing accomplice and chief funding officer, Ruud Smets, argued that enterprise capital was the perfect class to seize long-term upside within the crypto sector, particularly in its early funding rounds. He added that Theta Capital’s technique focuses on specialist managers who can outperform generalist traders within the earliest funding spherical.
“We’ve all the time been searching for areas the place specialization and energetic administration present a sustainable edge.”
–Ruud Smets, Managing Accomplice and Chief Funding Officer at Theta Capital.
Smets additionally famous that the expertise and positioning of devoted crypto VCs have compounded over time, arguing that it has created boundaries for much less targeted traders making an attempt to enter the house.
Regardless of Theta’s newest funding initiative, the crypto enterprise investing sector has been difficult, particularly this 12 months. Knowledge from Galaxy Digital exhibits that solely $1.7 billion was allotted to 21 crypto-focused enterprise funds within the second quarter of 2025. The information lies nicely under ranges seen in prior bull markets. The information additionally confirmed that VC funding noticed a 54% year-over-year enhance to $4.8 billion in Q1 2025.
PitchBook famous $6 billion in VC funding in the identical interval, regardless of a 39.5% decline in funding quantity from 670 recorded offers in the identical interval final 12 months. The worldwide capital market researcher revealed that capital is more and more flowing into buying and selling, asset administration, and crypto monetary companies, with $2.55 billion allotted to 16 offers in Q1 2025.
PitchBook additionally discovered that infrastructure and improvement companies raised round $955 million throughout 30 offers. PitchBook’s senior crypto analyst Robert Le argued that capital continued to hunt crypto’s core utility rails regardless of macroeconomic uncertainty.
Galaxy Digital reported that elevated curiosity in synthetic intelligence has funneled some consideration from crypto investing. The corporate famous that the drift occurred when spot ETFs and now treasury corporations are competing for institutional funding. If profitable, Theta’s new funding might mark its sixth fund below the collection.
Theta Capital pronounces Legends4Legends blockchain convention
Theta is holding its premier blockchain convention for institutional allocators, the Legends4Legends charity convention this 12 months on October sixteenth in Amsterdam. The corporate mentioned the occasion presents a full-day program that includes the world’s main consultants to assist allocators navigate the blockchain business.
In line with the corporate’s report, certified establishments will attend without spending a dime. Theta additionally confirmed that the convention goals to lift funds by means of donations supporting the Alternatives4Children charity. The theme of the convention can be ‘Blockchain Goes Mainstream: Stablecoins & Past’.
Theta plans to discover key developments within the blockchain house, together with the rise of blockchain-native monetary infrastructure, with stablecoins because the spine of worldwide digital funds. The corporate can even dive into the convergence of AI and crypto, amongst different issues.
