Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for two new funds, as stated in a recent Bloomberg report. The company, which has previously invested in major digital asset players such as Coinbase, Circle, and Tether, is expected to finalize the funding round in the next five to six months.
With around $1 billion already raised for crypto investments, Blockchain Capital's co-founders and managing partners, Bart Stephens and Brad Stephens, are looking to expand their portfolio. The firm's limited partners, largely from traditional financial backgrounds, include university endowments, sovereign wealth funds, and U.S. pension plans.
Currently, Blockchain Capital manages $2 billion in fee-bearing assets, with a total portfolio value exceeding $6 billion.