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

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

According to the introduction materials, the new fund, named Theta Blockchain Ventures V, will allocate capital to 10 to 15 venture capital firms focused on digital assets. The fund targets a net internal rate of return (IRR) of 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 investment portfolio includes well-known crypto venture capital institutions such as Pantera Capital, CoinFund, Polychain Capital, and Dragonfly.