Theta Capital Management筹集了超过1.75亿美元的旗舰Theta区块链风险投资III基金，从战略上支持即将到来的区块链创新浪潮

旷日持久后，资本将针对早期加密风险投资（VC）资金，因此表明该行业的机构利益增加了。

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.

产出：一家荷兰投资公司Theta Capital Management为其旗舰Theta区块链风险投资III基金会筹集了超过1.75亿美元。资本将用于支持早期加密风险投资（VC）资金中的下一波创新浪潮，从而展示了该行业的机构利益的增加。

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.

该筹款计划始于2022年底，标志着利用加密货币领域的新兴机会的重要里程碑。 Theta计划投资的15至20个表现最佳的加密本地风险投资基金都具有支持早期Web3公司的经验。

“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.”

“我们的论点是，投资的最早阶段仍然显示出该领域最不对称的上升空间，” Theta Capital的Venture Derrick Chia说。 “我们认为风险投资在结构上是最佳的资产类别，可以抓住该领域的长期上行空间。”

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年以来，这种方法与Theta的更广泛战略有关，以支持加密货币部门。到目前为止，该公司已资助了60多个加密货币风险投资基金，以及过去资金的300多家基础初创公司。

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.

现在，随着加密货币市场从两年的低迷中恢复并利用了新的机构利益浪潮，Theta选择扩展和部署资金的选择是充分的。

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.

提供基金的创业公司的创业公司还与加密货币市场的恢复相吻合，此前两年下降了两年。 Theta于2022年底开始为该基金筹集资金，这是许多人认为这是熊市的最低点。尽管有挑战性的情况，该公司还是从家庭办事处，机构投资者和高净值个人那里汲取了资金。

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举动的时机似乎有先见之明。因素的汇合，包括机构需求不断上升，成熟的监管框架以及美国比特币ETF的批准，指向加密球体中的新势头。

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年大幅降低后，尽管缓慢地，加密货币的风险投资也开始增加。 PitchBook和美国投资委员会最近的一份报告强调了这一趋势，并指出，尽管与去年同期相比，在2023年上半年投资了加密货币初创公司的总资本下降，但向后期公司发生了转变。

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.

与根据市场趋势循环进出加密货币的通才风险投资人不同，Theta专门针对深层嵌入加密货币域中的公司。其中，一些最著名的名称包括范式，电资本，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.

这种集中的策略的基础是信念这些公司凭借其在该领域的深厚技术知识和经验，最好的定位是确定和支持开发基础架构，工具和协议的初创公司，这些协议将定义加密经济的下一阶段。

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的这一举动强调了一个更广泛的趋势：传统投资者越来越多地寻求接触加密资产类别，但他们宁愿通过可信赖的中介机构这样做。基金基金模式为从机构投资者有效部署资本的手段提供了一种手段，同时还为最佳风险多样化提供了机会。

“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说：“机构希望进入加密货币，但他们需要一个框架，既可以提供风险又有风险调整后的回报。” “我们当时进来。”

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凭借1.75亿美元的全新资金，专注于支持下一阶段的创新浪潮，因此，Theta Capital Management具有战略性的利用，可以利用不断发展的机构对加密资产级别的影响。

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.

随着资本的重新流动和创造力，这些公司将如何帮助发展整个行业的分散财务，数字所有权和区块链动力的解决方案的叙述将展开。