Today Seattle-based Bloccelerate announced the closing of a $12 million fund. The vast majority of funding in the enterprise space has come from corporates rather than venture capital and that’s not just consortia. Even most standalone startups are backed by the corporate venturing arms of major enterprises.
However, Bloccelerate’s focus is on enterprise applications and institutional adoption rather than necessarily permissioned blockchain. CEO Kate Mitselmakher spent time on enterprise technology at Gartner and the Lead Advisor to the fund is a former Gartner Research VP. General Partner Sam Yilmaz co-founded a Decentralized Application Fund in 2014, which sold its assets in late 2017.
Across seed to Series B, Bloccelerate plans to target investments of $500k to $2 million in Europe and North America alongside an unspecified co-investment vehicle.
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