Blockchain Capital, a prominent cryptocurrency venture capital company, is reportedly seeking to raise $700 million for the launch of two new funds, according to a recent Bloomberg report. 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. The company has declined to comment on the matter.
With a portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, Blockchain Capital has previously secured around $1 billion in funding for crypto investments. The firm's co-founders and managing partners, Bart Stephens and Brad Stephens, oversee a portfolio worth over $6 billion, with $2 billion in fee-bearing assets under management. The company's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans.