Blockchain Capital, a prominent cryptocurrency venture capital company, is currently raising $700 million to support 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, as stated in the report, citing information from a knowledgeable source.
Despite being contacted for comment, the firm did not respond to the inquiry. As co-founders and managing partners, Bart Stephens and Brad Stephens have led Blockchain Capital in securing approximately $1 billion in investments for the crypto sector, with notable digital asset companies such as Coinbase, Circle, and Tether included in its investment portfolio. The company's most recent significant fundraising effort took place in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. The limited partners of Blockchain Capital primarily hail from traditional financial backgrounds, comprising entities such as university endowments, sovereign wealth funds, and U.S.
pension plans. According to Bloomberg, the firm currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.