Blockchain Capital, a prominent cryptocurrency venture capital company, is seeking to raise $700 million for the launch of two new funds, according to a recent report by Bloomberg. The firm, founded by co-founders and managing partners Bart Stephens and Brad Stephens, is anticipated to complete the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months.
With a history of investing in major digital assets such as Coinbase, Circle, and Tether, Blockchain Capital has previously secured around $1 billion in funding for crypto investments. The company's most recent significant fundraising effort was in 2023, when it raised $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base 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.