According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds. These funds, which include the firm's seventh early-stage fund and its second growth fund, are anticipated to be finalized over the course of the next five to six months, as stated by a source familiar with the matter. Despite being approached for comment, the firm did not provide a response to CoinDesk's inquiry.
Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a history of significant crypto investments, boasting a portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, with total investments amounting to approximately $1 billion. The company's most recent major fundraising effort was in 2023, during which it secured $580 million for its sixth early-stage fund and a late-stage fund. The limited partners of Blockchain Capital primarily originate from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans.
The firm currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion, as reported by Bloomberg.