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Venture Capital
bloccelerate.vc

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Investments

3

Funds

1

About Bloccelerate

Bloccelerate is a global accelerator and a fund focused on investing in blockchain companies all over the world. The fund provides initial seed investments, typically around $100k-$1.5M for a startup.

Bloccelerate Headquarter Location

701 5th Ave, 75th Floor

Seattle, Washington, 98104,

United States

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Latest Bloccelerate News

What to Expect of Cryptocurrency and Bitcoin Trends in 2021

Dec 23, 2020

With Bitcoin rising to new heights, the cryptocurrency’s sustained price rally on the markets may be indicative of what may be in store for it next year. In just a year, Bitcoin’s gains went from levels of $4,000 to over $24,000. These phenomenal gains have been triggered by a series of events, notably the rise in inflation, the depreciation of the US dollar, and the increased institutional adoption of Bitcoin in the second half of the year, to name a few. Bitcoin’s achievements in 2020 have served the greater good of the whole cryptocurrency market, as its successful rallies and the amount of institutional support backing it can no longer be ignored. Corporations and banks will deploy their own digital currencies With Bitcoin becoming more and more mainstream, many have grasped the notion by now that digital dollars are here to stay and will become an eventuality. Facebook has certainly latched onto that idea, deploying their own stablecoin project, dubbed Diem . Not to be left behind and forgotten in the digital wave, Biden presidency may mean a new set of rules for crypto With Donald Trump exiting and president-elect Biden to overlook US affairs, the cryptocurrency industry has also been hopeful that this may translate to increased adoption of crypto. It is no secret that Trump has not been very crypto-friendly during his presidential term, openly expressing that “he was not a fan of Bitcoin and other ”. However, the fact that Biden taking the reins will translate to a more friendly environment for crypto to thrive in is all speculative, as Biden has not particularly sided with Bitcoin or cryptocurrencies during his electoral campaign. In any case, one thing is for sure: with the upcoming digital wave propelled by the ongoing pandemic, cashless payments have been on the rise this year, and may partly be to thank for Bitcoin’s increased adoption. Crypto industry to gain awareness through Bitcoin Bitcoin’s evolution in 2020 has been key, as the cryptocurrency has now gained institutional investors’ attention. Bitcoin has gained the approval of seasoned investors such as Stan Druckenmiller and Raoul Pal . Institutions such as MicroStrategy, , Square, and Grayscale have also diversified their company’s treasury reserves through Bitcoin, sending its price surging for the skies. 2021 may be the year that Bitcoin will increasingly be adopted as a payment method, as PayPal has already made a move on that. Who knows, in order to remain competitive, other corporations may also roll out this option. Additionally, as more spotlight is directed towards BTC, this may lead to the mainstream integration of other cryptocurrencies and the continuous growth of DeFi and all things blockchain. Blockchain is most widely recognized as the technology that enables the functioning of cryptocurrencies. But what most people don’t know is that blockchain is used in many different fields for a variety of purposes. A blockchain is essentially a massive database in which information is stored in connected blocks. A single person or entity do not have full control over decentralized blockchains. This technology is much appreciated by experts in many industries for its security and transparency. Blockchain technology has become invaluable in the world, and its use is only going to increase in the coming years. Identifying misinformation n today’s world riddled with fake news and misinformation, it is essential to verify anything that pops up. A blockchain-based app can be used to keep track of all the changes that are made to a digital item such as a photograph to provide viewers with information regarding its authenticity. Blockchain can also be used to distinguish fake news from real ones using massive ledgers that record and track every piece of information that passes through. Blockchains will play an important role not just in the financial sector, but also in social and political fields. Blockchain use by government agencies Most governments around the world were extremely distrustful towards cryptocurrencies and were not happy with their spreading popularity. But blockchains are an entirely different matter, and even government agencies have recognized how useful it can be when utilized properly. Many governments around the world have already been including blockchain technology in various functions. While Vietnam has been using blockchain to bring about the country’s digital transformation, countries like South Korea and Thailand are using it for recording and documenting various information. Digitalizing governments can be effectively carried out using blockchain technology with its ability to document and store massive amounts of information with no risks. Blockchain is also expected to one day help improve the efficiency of the voting process, making it easier and more secure. Such voting can be done online, and due to the extensive documentation of each vote or token, there is minimal chance of fraudulent activities. Integration in various sectors Blockchain is becoming quite popular in a variety of industries for different purposes. It is expected to heavily influence and improve supplies and inventory for companies everywhere. Several businesses have already started using blockchain technology to keep track of their shipping and payment towards numerous other companies more efficiently. Blockchain technology is also expected to enhance the public supply of energy, gas and oil. Large financial institutions have also begun using blockchains in trading and carrying out transactions and payments. Blockchain is also expected to get rid of intermediaries in the financial sector and reduce the cost of the transactions that take place. Experts expect the first group of blockchain-based financial applications to be private, controlled by a central authority for increased regulations. These private blockchains will provide added security and ledgers available for everyone. Slowly they are expected to transform into public blockchain applications that are decentralized. Saving money as cryptocurrency also helps citizens against sudden devaluations in their national currency. In countries where citizens don’t trust their centralized banks or Government, cryptocurrencies are beneficial. The increased popularity of crypto gambling Online casinos and gambling games have been gaining incredible popularity in the last few years. They provide gambling enthusiasts with the ability to play and earn money, especially on the sites like the ones listed in  www.usafriendlypokersites.com/texas/ . These online casinos let users link their cards or bank accounts to facilitate easy monetary transactions through secure gateways. Many of these online casinos have also permitted the use of cryptocurrencies by their customers while playing gambling games. Since there is very little regulation when it comes to cryptocurrencies in most countries, this is a wonderful opportunity for gamblers to make extra cash. Reduced risks of market disruption Systems failure often causes issues with the functioning of an entire market. A single breakdown can lead to a chain reaction taking down all the other systems with it. With the use of blockchain technology, this damage can be limited to that particular system and prevent it from spreading and causing a disruption. Since decentralized blockchains do not require a central authority, and multiple users must verify each transaction, there is minimal chance of complete and extensive failure. Summing up Blockchain technology is bringing about positive changes in all spheres of society. While it was always expected to be a priceless asset in the financial industry, various other fields have also been using it for numerous advantages. From increasing accessibility, security, and transparency, to recognizing misinformation, there are various applications of blockchain technology in today’s world. New cryptocurrencies are emerging regularly, and ordinary citizens have also started to understand the benefits that come with storing their money in the form of cryptocurrencies in volatile political and economic atmospheres. Ripple has warned that the U.S. Securities and Exchange Commission (SEC) is set to file a lawsuit against the company over the alleged sale of unlicensed securities, in this case, the third-largest cryptocurrency by market cap XRP. According to the Wall Street Journal , the “lawsuit revolves around whether XRP, a digital asset that the company launched in 2012, is actually a security that should have been registered with the SEC.” The lawsuit will name Ripple CEO Brad Garlinghouse and cofounder Chris Larsen as defendants, Garlinghouse said. The CEO has blasted the agency’s decision to sue ahead of the holidays and added Ripple will fight the case. He said it’s “not just Grinch-worthy, it’s shocking.” Per Garlinghouse, it’s “an attack on the entire crypto industry and American innovation.” Ripple has aggressively pushed back the notion that XRP is a security for years. While the Sec has determined both BTC and ETH are not securities because of their decentralized nature, 100 billion XRP were minted without the mining process, which left Ripple – the firm that owns the majority of the XRP – under scrutiny. The lawsuit is also coming months after Larsen and other Ripple executives suggested the company may relocate to outside of the United States, in response to what they claim to be overbearing behavior by regulators. 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 around multi-stakeholder record-keeping, supply chain, and capital markets come to the front,” she said. Kate Mitselmakher. Bitcoin has surged to record-highs over the past several months, helped in part by giants such as PayPal adopting digital currencies as payment options. Sam Yilmaz , COO and general partner at Bloccelrate, said cryptocurrency is an initial use case for the broader blockchain industry. He likened it to how email was the first use case for the internet and led to e-commerce, remote data storage, and other applications. “As the public knowledge of cryptocurrencies grows, more people are contemplating other use cases of the technology and implementing ways to upgrade workflows,” he said. “The use cases are numerous.” Yilmaz, who previously ran Decentralized Applications Fund, said blockchain can be used to update info about the location and quality physical goods; to track ownership and entitlements on alternative assets and bonds; or to keep immutable records of mortgage files, for example. BlockApps, a a Bloccelerate portfolio company, helps track products for Bayer Crop Sciences, for example, while Symbiont manages passive index data for Vanguard. There are also a growing number of healthcare initiatives looking to use blockchain to create new efficiencies in healthcare, while maintaining patient privacy and security. Seattle health technology company Lumedic last month launched a new effort to create standards for digital identity in healthcare, aiming to streamline the exchange of patient data and remove bottlenecks in the larger healthcare system using blockchain technology. “Some companies are even contemplating leveraging blockchain for timestamping of marriage certificates, verification IP rights, confirming qualification credentials of the workforce,” Yilmaz added. “One day, maybe court hearings and corporate authorities may be on the blockchain so that multiple stakeholders who don’t know or trust each other, can rely on the immutable records of what happened in the past.” Mitselmakher said Bloccelerate does not have a geographic focus for investments but is excited about backing companies in its hometown. She cited the Seattle region’s history with blockchain tech, which includes current firms including Bittrex and a bevy of smaller startups. “We believe this region has an abundance of talent and undersaturation of capital,” Mitselmakher said. Bloccelerate raised capital from 45 limited partners for its first fund, which included a mix of family offices, high net-worth individuals, and one corporate investor. UK-based blockchain start-up Typerium has revealed an app that it says will change the way content creation is done for everyone. The app, available on the Apple App Store, is designed to enable users to create fantastic visual content that can be shared instantly on every digital platform. Typerium will expand its offering in the future, but even v1 of the app offers the opportunity for creators to access sophisticated suites of photo and text editing options, more than 400 premium fonts from some of the best type foundries around and free access to more than half a million stock images. There are also more than 40,000 professional-quality designed assets already available on the Typerium app, with more added every day. Simplicity is also key to the Typerium platform: with it, you can share the assets you’ve created to every social media network with just one click. Crucially, though, all this work is protected by Typerium using blockchain technology. The app took more than two years of work to reach the point of a successful launch, but Alex Haigh, the founder of Typerium, feels the app could change the game completely for content creators. “It’s been an extremely challenging 2 years,” he says, “however, I believe we now have a solid foundation to build on to compete with companies like Canva, who have concerned the market for too long.” Ultimately, Typerium intends to facilitate the work of content creators with a whole blockchain-protected ecosystem where they can work and run their business. This means a social media network and marketplace as well as a distributed platform for content creation. Alex Haigh again: “What we are ultimately setting out to build has never been done before. In these current times, it’s more important than ever to provide people with an opportunity to become self-sufficient without the need for reliance on huge corporations or marketplaces for their livelihood. This is the first crucial step towards creating a decentralised platform that has the potential to empower content-creators.” With top-quality designs available, a look and feel that’s smooth and sophisticated, and an easy versatility and simplicity in its operation, the first iteration of the Typerium app looks to be off to a good start. Please follow and like us:

Bloccelerate Investments

3 Investments

Bloccelerate has made 3 investments. Their latest investment was in CoreChain as part of their Seed VC on August 8, 2021.

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Bloccelerate Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/4/2021

Seed VC

CoreChain

$1.25M

Yes

5

8/3/2021

Series A

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$99M

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10

9/30/2019

Series A

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$99M

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10

Date

8/4/2021

8/3/2021

9/30/2019

Round

Seed VC

Series A

Series A

Company

CoreChain

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Amount

$1.25M

$99M

$99M

New?

Yes

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Co-Investors

Sources

5

10

10

Bloccelerate Fund History

1 Fund History

Bloccelerate has 1 fund, including Bloccelerate Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/14/2020

Bloccelerate Fund I

$12M

1

Closing Date

12/14/2020

Fund

Bloccelerate Fund I

Fund Type

Status

Amount

$12M

Sources

1

Bloccelerate Team

1 Team Member

Bloccelerate has 1 team member, including former Managing Partner, Sheikh Mohammed Irfan.

Name

Work History

Title

Status

Sheikh Mohammed Irfan

Managing Partner

Former

Name

Sheikh Mohammed Irfan

Work History

Title

Managing Partner

Status

Former

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