Theta Capital Seeks $200M for Blockchain Fund-of-Funds Amid Sluggish Crypto VC Activity

Theta Capital Management, an Amsterdam-based investment firm, is targeting a $200 million raise for its THETA Blockchain Ventures V fund in 2025. The fund will allocate capital to 10-15 digital asset-focused venture firms, aiming for a 25% net return. This fundraising effort comes despite a broader slowdown in crypto venture funding.

Galaxy Digital data reveals just $1.7 billion flowed into crypto-focused venture funds in Q2 2025 - a fraction of bull market peaks. Competition from AI investments and crypto ETFs has diverted institutional capital away from traditional venture funding routes.

With $1.2 billion in assets under management, THETA brings established credibility to the space. The firm pivoted to digital assets in 2018 after its 2001 founding, recently closing a $170 million funding round. Its latest move signals continued institutional confidence in blockchain's long-term potential despite current market headwinds.