According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is seeking to raise $700 million for the launch of two new funds. The funds in question include the company's seventh early-stage fund and its second growth fund, which are anticipated to be finalized over the course of the next five to six months, as indicated by a source familiar with the matter.
Despite being approached for comment, the firm did not provide a response. Blockchain Capital, which is led by co-founders and managing partners Bart Stephens and Brad Stephens, has a history of crypto investments totaling around $1 billion, with notable digital asset companies such as Coinbase, Circle, and Tether featuring in its portfolio. The company's most recent major funding effort took place in 2023, when it successfully secured $580 million for its sixth early-stage fund and a late-stage fund. The limited partners of Blockchain Capital primarily come from traditional financial backgrounds, including entities such as university endowments, sovereign wealth funds, and U.S.
pension plans. As reported by Bloomberg, the firm currently manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.