Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for the launch of two new funds. As per a recent report, the firm, which is headquartered in San Francisco, anticipates completing the fundraising process for its seventh early-stage fund and second growth fund over the next five to six months. Although the company did not provide a comment on the matter, it has previously successfully raised around $1 billion for cryptocurrency investments, boasting a portfolio that includes major players such as Coinbase, Circle, and Tether. The firm's co-founders and managing partners, Bart Stephens and Brad Stephens, oversee the investment activities.
Its most recent significant fundraising effort took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. Notably, the firm's limited partners primarily hail from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S.
pension plans, with the firm currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.