According to a recent report by Bloomberg, 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 is headquartered in San Francisco, expects to finalize the fundraising efforts for its seventh early-stage fund and second growth fund within the next five to six months. Although the company did not provide a comment when approached by CoinDesk, it has been reported that the funds are expected to bolster its investment portfolio.
As a leading investor in the crypto space, Blockchain Capital has previously secured around $1 billion in funding for investments in digital assets, with notable companies such as Coinbase, Circle, and Tether in its portfolio. The company's co-founders and managing partners, Bart Stephens and Brad Stephens, have been at the helm of the firm's investment efforts. In its last major funding round in 2023, Blockchain Capital raised $580 million for its sixth early-stage fund and a late-stage fund.
The firm's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, and it currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.