Blockchain Capital's Parallel IV venture capital fund receives Ripple's $25 million Ripple investment

On Wednesday (April 11), the Parallel IV venture capital fund of Blockchain Capital (Blockchain Capital) announced that it has received investment from Ripple, which will provide Ripple (XRP) worth $25 million.

This is also the first fund of blockchain capital to accept cryptocurrency investment.

Patrick Griffin, senior vice president of strategic growth at Ripple, said in a statement:

"Blockchain Capital is the most important venture capital fund in the blockchain industry, providing support for any project that wants to make a splash in the blockchain field. Now, they are looking for some important projects with a good track record to invest in."

Last month, Blockchain Capital announced that its fourth fund had raised US$150 million, and it also planned to use US$125 million to form its LV LP fund and raise US$25 million worth of cryptocurrency financing for its Parallel Fund IV fund. . But at the time, they did not reveal which cryptocurrency they would choose.

Now that all the answers have been given, Blockchain Capital finally chose Ripple's XRP. It is reported that,In addition to investing in Ripple ledger and Interledger Protocol, they will also invest in some blockchain startups.

Bart Stephens, co-founder and managing partner of Blockchain Capital, said in a statement:

“Whether using Ripple, Bitcoin, or just the underlying technology, our goal is to find the best projects and provide them with the resources to help them create value for their clients.”