Former Blocktower Team Launches New Venture Fund Targeting $100 Million
Blocktower's merger with Arca has led to the formation of a new venture capital firm, Strobe, by key members Thomas Klocanas, Steven Venino, and Winnie Lau. Key details include:
- The merger excluded Blocktower's venture capital arm.
- Strobe focuses solely on venture capital, allowing for more independence and a long-term investment strategy.
- The team is currently deploying capital from its $150 million first fund and plans to raise a new $100 million fund soon.
- Klocanas emphasized the importance of fundamentals over market narratives, seeking companies that will endure in the long term.
- Recent investments include projects like Morpho, Ethena, Ledger, TYB, Aptos, and Maple Finance.
Klocanas looks for founders who are problem-solvers rather than those focused on social media presence.