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Kate Mitselmakher.

To blocka Seattle-area venture capital firm that backs startups developing blockchain-related technologies, is raising another fund.

A new Filing with the SEC reveals that the company raised $20 million from a larger fund.

Kate Mitselmakherwho launched Bloccelerate in 2018 and runs the company as a general partner, declined to comment on the filing.

Bloccelerate raised $12 million for its first fund in 2020. The company invests in blockchain startups and also provides infrastructure for its portfolio, which includes companies such as Stably, ZenLedger, BlockApps and others.

Venture capital funding for blockchain and Web3 startups appears to be slowing significantly in Q3, Tech Crunch reported, amid the crypto market slowdown and venture capital slowdown more broadly.

Still, some investors remain optimistic about backing startups building blockchain technologies like Web3. Silicon Valley heavyweight Andreessen Horowitz announcement a $5.5 billion Web3 fund in May, for example, and other companies are also raising new funds.

Mitselmakher, a former Gartner Invest executive, runs Bloccereate with Sam YilmazGeneral Partner and former Managing Partner of the Decentralized Applications Fund.

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