(Rejected) Blockchain Development Platform Alchemy Raises $12 Million for New Venture Capital Fund

Blockchain infrastructure service provider, Alchemy is raising $12 million for a venture capital fund.

Alchemy co-founder and chief technology officer Joseph Lau will become the fund's executive officer to manage the fund, according to the company's Sept. 9 filing with the Securities and Exchange Commission (SEC).

Alchemy has carved out a niche for itself as an infrastructure service provider, currently powering platforms such as OpenSea, Maker and Polygon through its application programming interfaces (APIs). Alchemy's APIs provide a variety of functionality, including node infrastructure, transaction history, and non-FT functionality.

In June, the company raised $25 million to encourage startups and developers to grow and build in the decentralized finance (DeFi) or non-fungible token (NFT) space.

Alchemy has been committed to the development and exploration of the Web3 field,

Alchemy, a pioneer in the blockchain developer platform, announced that it already partnered with Astar Network to accelerate Web3 development on Polkadot on August 4.

That same month, Blockchain infrastructure service provider, Alchemy has announced the acquisition of ChainShot, a crypto education platform to help complement its plethora of crypto-focused offerings.

In December, the company created a venture capital arm to invest in big crypto companies like OpenSea and Dapper Labs.

Last year The leading crypto payment technology provider Alchemy Pay (ACH) announced that it will launch the Virtual Crypto-Linked card, aiming to expand the scope of cryptocurrency payments to meet the growing demand for crypto-related card transactions

In February 2022, Alchemy completed a $200 million financing at a valuation of $10.2 billion, led by Lightspeed and Silver Lake.