Strobe Ventures Breaks Free from BlockTower, Targets $100M Fund II
Strobe Ventures has officially taken flight as an independent firm, spinning out from BlockTower Capital’s venture unit with $235 million in assets under management (AUM). The newly minted company, led by former BlockTower execs, is already plotting its next move: a $100 million second fund to fuel innovative startups.
The split follows BlockTower’s November 2024 merger announcement with Arca, which aimed to streamline their trading and credit operations. While those units joined forces, BlockTower’s venture arm opted for independence, rebranding as Strobe Ventures. The firm keeps its existing capital, investors, portfolio, and team intact, setting the stage for a focused future.
“We’re staying small, sharp, and contrarian,” said Thomas Klocanas, Strobe’s CEO and managing partner, who previously headed BlockTower’s venture efforts. “Big funds chasing quick wins dominate the web3 space, but our limited partners backed us to stick with a deliberate, high-conviction strategy.” Klocanas teams up with Stephen Venino and Winnie Lau, alongside venture partners like BlockTower co-founders Ari Paul and Matthew Goetz.
Strobe inherits BlockTower’s first fund, a $150 million pool launched in 2022 with support from heavyweights like MassMutual and Bpifrance. Now grown to $235 million AUM, the fund boasts investments in projects like Ethena, Morpho, and Aptos. Since the spinout, Strobe has added three more bets, including Clanker—an AI-powered token creation tool on the Base blockchain—plus two undisclosed early-stage deals.
“We’re pacing ourselves,” Klocanas told The Block. “We’ve got about 10 more investments lined up this year, averaging $3 million each.” The firm focuses on pre-seed to Series A rounds, backing founders who use cryptocurrency foundations to rethink finance and consumer tech from scratch.
Looking ahead, Strobe plans to launch Fund II, targeting $100 million once its first fund nears full deployment. That process kicks off in the coming weeks, with Klocanas doubling down on a lean, selective approach over the rapid-fire pace of larger rivals.
For entrepreneurs, Strobe promises steady support for real-world solutions built on crypto rails. As the firm carves its own path, its blend of patience and ambition could make waves in a crowded venture landscape.