Theta Capital plans to raise $200 million for its new blockchain parent fund

ChainCatcher news, according to Bloomberg, Theta Capital Management is raising $200 million for its latest blockchain fund of funds, aiming to seize investment opportunities in the early stages of blockchain while venture capital investment in the sector remains sluggish.

The introduction materials show that this new fund, named Theta Blockchain Ventures V, will allocate funds to 10 to 15 venture capital firms focused on digital assets. The fund's target net internal rate of return (IRR) is 25%. A spokesperson for Theta confirmed the details of this fundraising plan. It is reported that Theta Capital Management currently manages approximately $1.2 billion. Theta's portfolio includes well-known cryptocurrency venture capital firms such as Pantera Capital, CoinFund, Polychain Capital, and Dragonfly.