According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds. The firm, which is headquartered in San Francisco, anticipates completing the fundraising for its seventh early-stage fund and second growth fund within the next five to six months.
Although the company did not respond to requests for comment, it has been reported that the funds will be used to further invest in the cryptocurrency space. With co-founders and managing partners Bart Stephens and Brad Stephens at the helm, Blockchain Capital has already established a strong portfolio, boasting investments in major digital asset companies such as Coinbase, Circle, and Tether. The firm's previous funding endeavors have been successful, with its last major raise occurring in 2023, where it secured $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans, and currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.