Theta Capital Eyes $200 Million for New Blockchain Fund-of-Funds

Theta Capital Management is seeking to raise $200 million for its latest blockchain fund-of-funds, aiming to capitalize on early-stage blockchain opportunities even as venture funding in the sector remains subdued.

The new vehicle, Theta Blockchain Ventures V, will allocate capital to between 10 to 15 venture firms specializing in digital assets, according to an investor deck seen by Bloomberg. The fund is targeting a net internal rate of return of 25%. A Theta spokesperson confirmed the details of the fund raising plans.