According to a report by Bloomberg on Thursday, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds. These funds, which are anticipated to be finalized within the next five to six months, comprise the company's seventh early-stage fund and its second growth fund, as stated in the report, citing information from a knowledgeable source. When contacted by CoinDesk for a statement, the firm did not provide a response.
Blockchain Capital, co-founded and managed by Bart Stephens and Brad Stephens, has a history of investing in the cryptocurrency space, with approximately $1 billion raised for crypto investments and a portfolio that includes major digital asset companies such as Coinbase, Circle, and Tether. The company's most recent significant funding round took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. The limited partners of Blockchain Capital primarily originate from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S.
pension plans, among others. As reported by Bloomberg, the firm currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.