According to a recent Bloomberg report, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million to support two new funds. The firm, which has previously invested in notable digital asset companies such as Coinbase, Circle, and Tether, expects to finalize the fundraising efforts for its seventh early-stage fund and second growth fund over the coming five to six months.
With a portfolio managed by co-founders Bart Stephens and Brad Stephens, Blockchain Capital has already secured around $1 billion in crypto investments. The company's limited partners, comprising university endowments, sovereign wealth funds, and U.S. pension plans, among others, will contribute to the latest fundraising efforts. Having raised $580 million for its sixth early-stage fund in 2023, Blockchain Capital currently manages $2 billion in fee-bearing assets, with a total portfolio value exceeding $6 billion.