Theta Capital Management籌集了超過1.75億美元的旗艦Theta區塊鏈風險投資III基金，從戰略上支持即將到來的區塊鏈創新浪潮

曠日持久後，資本將針對早期加密風險投資（VC）資金，因此表明該行業的機構利益增加了。

output: A Dutch investment firm, Theta Capital Management, has raised over $175 million for its flagship Theta Blockchain Ventures III fund-of-funds. The capital will be used to support the next wave of innovation in early-stage crypto venture capital (VC) funds, showcasing increasing institutional interest in the industry.

產出：一家荷蘭投資公司Theta Capital Management為其旗艦Theta區塊鏈風險投資III基金會籌集了超過1.75億美元。資本將用於支持早期加密風險投資（VC）資金中的下一波創新浪潮，從而展示了該行業的機構利益的增加。

This fundraising initiative, which began in late 2022, marks a significant milestone in capitalizing on the emerging opportunities within the crypto sphere. Each of the 15 to 20 top-performing crypto-native VC funds that Theta plans to invest in has experience backing early-stage Web3 companies.

該籌款計劃始於2022年底，標誌著利用加密貨幣領域的新興機會的重要里程碑。 Theta計劃投資的15至20個表現最佳的加密本地風險投資基金都具有支持早期Web3公司的經驗。

“Our thesis is that the earliest stages of investing still show the most asymmetric upside in this space,” said Derrick Chia, head of venture at Theta Capital. “We think venture capital is structurally the best asset class to grab the long-term upside in this sector.”

“我們的論點是，投資的最早階段仍然顯示出該領域最不對稱的上升空間，” Theta Capital的Venture Derrick Chia說。 “我們認為風險投資在結構上是最佳的資產類別，可以抓住該領域的長期上行空間。”

This approach ties into Theta’s broader strategy since 2018 to support the crypto sector. So far, the firm has funded over 60 crypto-native VC funds and more than 300 underlying startups across past funds.

自2018年以來，這種方法與Theta的更廣泛戰略有關，以支持加密貨幣部門。到目前為止，該公司已資助了60多個加密貨幣風險投資基金，以及過去資金的300多家基礎初創公司。

Now, as the cryptocurrency markets recover from a two-year downturn and capitalise on a new wave of institutional interest, Theta’s choice to expand and deploy funds is well-timed.

現在，隨著加密貨幣市場從兩年的低迷中恢復並利用了新的機構利益浪潮，Theta選擇擴展和部署資金的選擇是充分的。

The startup of the fund-of-funds offering also coincides with a recovery in cryptocurrency markets following a two-year decline. Theta began collecting money for the fund in late 2022, right at what many would regard as the lowest point of the bear market. Despite challenging circumstances, the firm drew capital from family offices, institutional investors, and high-net-worth individuals.

提供基金的創業公司的創業公司還與加密貨幣市場的恢復相吻合，此前兩年下降了兩年。 Theta於2022年底開始為該基金籌集資金，這是許多人認為這是熊市的最低點。儘管有挑戰性的情況，該公司還是從家庭辦事處，機構投資者和高淨值個人那裡汲取了資金。

However, the timing of Theta’s move seems prescient. A confluence of factors, including rising institutional demand, a maturing regulatory framework, and the approval of a U.S. Bitcoin ETF, point towards a fresh momentum in the crypto sphere.

但是，Theta舉動的時機似乎有先見之明。因素的匯合，包括機構需求不斷上升，成熟的監管框架以及美國比特幣ETF的批准，指向加密球體中的新勢頭。

After significant reductions in 2022 and 2023, VC funding in cryptocurrencies has also started to increase, albeit slowly. A recent report by PitchBook and the American Investment Council highlighted this trend, noting that while total capital invested in crypto startups decreased in the first half of 2023 compared to the same period last year, there was a shift towards later-stage companies.

在2022年和2023年大幅降低後，儘管緩慢地，加密貨幣的風險投資也開始增加。 PitchBook和美國投資委員會最近的一份報告強調了這一趨勢，並指出，儘管與去年同期相比，在2023年上半年投資了加密貨幣初創公司的總資本下降，但向後期公司發生了轉變。

Unlike generalist VCs who have cycled in and out of crypto based on market trends, Theta specifically focuses on firms deeply embedded in the cryptocurrency domain. Among these, some of the most well-known names include Paradigm, Electric Capital, Polychain Capital, and Framework Ventures.

與根據市場趨勢循環進出加密貨幣的通才風險投資人不同，Theta專門針對深層嵌入加密貨幣域中的公司。其中，一些最著名的名稱包括範式，電資本，多chainCapital和Framework Ventures。

This concentrated strategy is underpinned by the belief that these companies, with their deep technical knowledge and experience in the space, are best positioned to identify and support the startups developing the infrastructure, tools, and protocols that will define the next phase of the crypto economy.

這種集中的策略的基礎是信念這些公司憑藉其在該領域的深厚技術知識和經驗，最好的定位是確定和支持開發基礎架構，工具和協議的初創公司，這些協議將定義加密經濟的下一階段。

This move by Theta highlights a broader trend: traditional investors are increasingly seeking exposure to the crypto asset class, but they prefer to do so through trusted intermediaries. The fund-of-funds model provides a means for efficient deployment of capital from institutional investors into early-stage crypto ventures, while also presenting an opportunity for optimal risk diversification.

Theta的這一舉動強調了一個更廣泛的趨勢：傳統投資者越來越多地尋求接觸加密資產類別，但他們寧願通過可信賴的中介機構這樣做。基金基金模式為從機構投資者有效部署資本的手段提供了一種手段，同時還為最佳風險多樣化提供了機會。

“Institutions want to be in crypto, but they need a framework that provides both exposure and risk-adjusted returns,” said Chia. “We come in at that point.”

Chia說：“機構希望進入加密貨幣，但他們需要一個框架，既可以提供風險又有風險調整後的回報。” “我們當時進來。”

With $175 million in fresh funding and a focus on supporting the next wave of innovation in early-stage crypto VC, Theta Capital Management is strategically positioned to capitalize on the evolving institutional demand for exposure to the crypto asset class.

Theta Capital Management憑藉1.75億美元的全新資金，專注於支持下一階段的創新浪潮，因此，Theta Capital Management具有戰略性的利用，可以利用不斷發展的機構對加密資產級別的影響。

As capital flows anew and ingenuity blossoms, the narrative of how these companies will aid in the development of decentralised finance, digital ownership, and blockchain-powered solutions throughout the industry will unfold.

隨著資本的重新流動和創造力，這些公司將如何幫助發展整個行業的分散財務，數字所有權和區塊鏈動力的解決方案的敘述將展開。