Blockchain Capital, a prominent cryptocurrency venture capital firm, is currently raising $700 million for the launch of two new funds, according to a recent report by Bloomberg. The firm, which is headquartered in San Francisco, anticipates completing the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months. The news was confirmed by a person familiar with the matter, although the company itself has not responded to requests for comment. As a leading investor in the crypto space, Blockchain Capital has previously secured around $1 billion in funding for cryptocurrency investments, with notable companies such as Coinbase, Circle, and Tether in its portfolio.
The company's most recent major funding round took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base primarily comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, and the firm currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.