Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for two new funds, according to a recent Bloomberg report. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to complete the fundraising process within the next five to six months. With around $1 billion already raised for crypto investments, Blockchain Capital manages over $2 billion in fee-bearing assets and a total portfolio valued at more than $6 billion.
The company's limited partners primarily come from traditional financial backgrounds, including university endowments and sovereign wealth funds. Its co-founders, Bart Stephens and Brad Stephens, have been instrumental in driving the firm's investment strategy, with the last major funding round securing $580 million in 2023.