According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million to support 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 respond to requests for comment, it has been reported that the funds will be utilized to further invest in the cryptocurrency sector.
Blockchain Capital has a notable track record, having previously raised approximately $1 billion for investments in digital assets, with major players such as Coinbase, Circle, and Tether included in its portfolio. The company's co-founders, Bart Stephens and Brad Stephens, have been instrumental in driving the firm's growth.
In 2023, Blockchain Capital successfully 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 value exceeding $6 billion.