Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for the launch of two new funds, according to a recent Bloomberg report. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to complete the fundraising process within the next five to six months. With a portfolio valued at over $6 billion and $2 billion in fee-bearing assets under management, Blockchain Capital's co-founders and managing partners, Bart Stephens and Brad Stephens, are set to expand the company's investment portfolio.
The firm's limited partners primarily come from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans.