The Bloccelerate team. (Bloccerate VC Photo)
Bloccelerate VC just raised $12 million for its first fund that will back startups selling blockchain technology to enterprise customers.
The 3-year-old Seattle-based firm plans to invest in 10-to-15 early-stage companies, with an average investment ranging from $500,000 to $2 million. It has already made five investments in startups including Blockapps, Symbiont, and MakerDAO.
Kate Mitselmakher, a former executive with Gartner Invest, launched Bloccelerate in 2018. She said the pandemic has created a tailwind for blockchain applications as companies accelerate adoption of digital services.
“With that, we have seen specific use cases
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