As reported by Bloomberg on Thursday, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million to support the launch of two new funds. According to a source familiar with the matter, these funds are expected to be finalized over the next five to six months. Despite being contacted, the firm chose not to comment on the matter.
Blockchain Capital, which is led by co-founders and managing partners Bart Stephens and Brad Stephens, has a history of successful crypto investments, boasting an impressive portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, with total investments amounting to approximately $1 billion. The company's most recent significant funding effort occurred in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. Notably, the firm's limited partners originate from traditional financial backgrounds, encompassing entities such as university endowments, sovereign wealth funds, and U.S.
pension plans. As per Bloomberg, Blockchain Capital currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.