Theta Capital has completed a fundraising of over $175 million, which will be used to invest in blockchain startups.

BlockBeats News, May 21st, according to Bloomberg, cryptocurrency investment firm Theta Capital Management has raised over $175 million to establish a "fund of funds" to support institutional investors in investing in early-stage blockchain startups.

The fund is named Theta Blockchain Ventures IV and will focus on investing in venture capital firms with expertise in the crypto field. Ruud Smets, the company's Managing Partner and Chief Investment Officer, said in an interview that Theta was founded in 2001 and began focusing on digital assets in 2018, currently managing assets totaling around $1.2 billion.