LeadBlock Partners closes a $150 million fund

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European crypto venture capital firm LeadBlock Partners has finished the first closure of its new fund, which has a target value of $150 million (€150 million).

This is the Leadblock Partner’s second fund, and it has already raised tens of millions of dollars since its founding just two years ago. The company was established by ex-Goldman Sachs executives David Chreng-Messembourg, Baptiste Cota, and Jean-Marc Puel. During an interview with The Block, Chreng-Messembourg stated:

“We’ve raised and deployed most of our first fund over the past two years. But we’ve been pushed by our LPs to launch funds two faster as we’re in a cooldown period where there’s a lot of value to be created.” 

Backing the new fund are family offices, hedge fund managers, and financial institutions, as well as some leading names in the crypto market. Notably, Yoann Turpin, co-founder of Wintermute, and Cyrus Fazel, founder of SwissBorg, are also participating in the fund.

“It’s already very difficult to find a co-founder [as a founder], recruit, raise capital, build the product, and scale,” Chreng-Messembourg added. “And within two years, on top of that, your investors are asking you to design the tokenomics, negotiate the market-making deal and the listing partners with the exchanges.” 

Leadblock forms a new committee

In addition to the fund, Leadblock Partner has formed a committee to facilitate communication across the many sectors in the industry. The committee includes Liat Aaronson, founder of Horizen Labs and Yuga Lab’s ApeCoin, Arnold Concepcion, COO of Animoca Brands, and Julien Prat, professor of economics and blockchain academic chair at Ecole Polytechnique de Paris as its members.

Notably, RakkaR Digital, a cryptocurrency custodian, has just raised $10 million owing to investment from SCB 10X, the venture arm of Siam Commercial Bank. In addition, the Lingfeng Innovation Fund (LIF) has raised $20 million in its first round in an effort to help crypto businesses.

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