According to a report by Bloomberg on Thursday, blockchain venture capital firm Blockchain Capital is seeking to raise $700 million for two new funds. The firm, based in San Francisco, anticipates completing the fundraising for its seventh early-stage fund and second growth fund within the next five to six months, as stated in the report citing an individual familiar with the matter. The company did not provide a response to CoinDesk's request for a comment.
With co-founders and managing partners Bart Stephens and Brad Stephens at the helm, Blockchain Capital has previously secured around $1 billion in investments for the crypto sector, boasting an impressive portfolio that includes prominent digital asset companies such as Coinbase, Circle, and Tether. The company's most recent significant funding round was in 2023, when it raised $580 million for its sixth early-stage fund and a late-stage fund. Notably, the firm's limited partners predominantly come from a traditional financial background, including university endowments, sovereign wealth funds, and U.S. pension plans, among others.
As per Bloomberg, Blockchain Capital currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.