According to a recent Bloomberg report, Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million for the launch of two new funds. The firm, which has previously invested in notable digital asset companies such as Coinbase, Circle, and Tether, is expected to finalize the fundraising efforts for its seventh early-stage fund and second growth fund over the next five to six months. With a portfolio valued at over $6 billion and managing $2 billion in fee-bearing assets, Blockchain Capital's co-founders and managing partners, Bart Stephens and Brad Stephens, have established the company as a major player in the crypto investment landscape.
The firm's limited partners hail from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans. Blockchain Capital's most recent major fundraising endeavor took place in 2023, securing $580 million for its sixth early-stage fund and a late-stage fund.