Thea Capital Management, Amsterdam-based Thea Capital Management has raised more than $ 175 million for its latest fund-offs, aimed at supporting the blockchain startup of the early phase through the Special Venture Capital (VC) firms.
The new vehicle, Thea Blockchain Ventures IV, Blockchain Innovation, Thea Managing Partner and Chief Investment Officer will channel Capital in Crypto-foreign VC firms with a track record in Rood Smets. told Bloomberg.
Smets said the strategy focuses on expert managers who can normally improve investors in the funding rounds as soon as possible.
“We are always looking for areas where expertise and active management provide a permanent edge,” Smates said. He said that the experience and position of the dedicated Crypto VCS “became complicated over time,” creates obstacles for low -centered investors trying to enter the space.
Established in 2001, Theta transferred her attention to digital assets in 2018 and now manages around $ 1.2 billion. The firm has previously supported major crypto investment names such as Polychen Capital, Coinfund and Castle Island Ventures.
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Crypto VC Deal Rebound
Crypto venture comes close to the fund as a rebound of Capital. According to Galaxy Digital, VC investment in digital assets Rose 54% in the first quarter $ 4.8 billion in 2025, indicating renewed confidence in the area after a long recession.
Another report of the pitchbook revealed that Crypto Venture Capital Funding increased In early 2025, even the deal activity declined.
The report showed that the 405 VC deal was completed in Q1 2025, a decline of 670 to 39.5% recorded in the same period last year. However, this is a slight increase from 372 deals seen in Q4 2024.
Despite the low deals, the total funding of more than twice from year-to-year reached $ 6 billion in Q1, while Q1 doubled in 2024 compared to $ 2.6 billion and $ 3 billion in the previous quarter.
Pitchbook senior crypto analyst Robert Le said that even amidst macroeconomic uncertainty, “Capital Crypto’s main utility kept looking for rail.”
Investment wholesale – In just 16 deals, about $ 2.55 billion – went into companies in asset management, trading platforms and crypto financial services. Infrastructure and development firms raised around $ 955 million in 30 deals.
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Circle may be the next benchmark of IPO Crypto
The pitchbook also said that Circle anticipated IPO The most important crypto equity pricing phenomenon may occur since the start of the coinbase 2021.
If the circle rumor secures an evaluation above the range of $ 4 to $ 4 to $ 5 billion, it can “therefore be a congestion in the new late phase capital and reset the expectations upwards in the payment and infrastructure piles,” Le said.
With $ 1.18 billion in the VC funding raised so far, the pitchbook has 64% likely that the circle will eventually become public.
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