Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds, as reported by Bloomberg on Thursday. The firm, headquartered in San Francisco, aims to complete the fundraising for its seventh early-stage fund and second growth fund within the next five to six months, according to a person familiar with the matter. Despite being approached for comment, the firm did not respond to CoinDesk's inquiry. As a leading crypto investment firm, Blockchain Capital has previously secured around $1 billion for investments in the digital asset space, with notable companies such as Coinbase, Circle, and Tether in its portfolio.
The company's most recent major fundraising effort was in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. The firm's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, and it currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion, as per Bloomberg.