According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is currently seeking to raise $700 million for the launch of two new funds. This development is part of the firm's strategy to expand its investment portfolio, with the fundraising efforts for its seventh early-stage fund and second growth fund expected to conclude within the next five to six months, as stated by a person familiar with the matter. Despite attempts to solicit a response, the firm did not provide comment to CoinDesk. Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a notable track record in crypto investments, boasting a portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, with approximately $1 billion raised for crypto investments.
The company's most recent significant fundraising endeavor took place in 2023, securing $580 million for its sixth early-stage fund and a late-stage fund. The firm's investor base, comprising limited partners from traditional financial backgrounds, includes entities such as university endowments, sovereign wealth funds, and U.S. pension plans.
As reported by Bloomberg, Blockchain Capital currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.