According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million to support the launch of two new funds. The firm, which is headquartered in San Francisco, expects to finalize the fundraising efforts for its seventh early-stage fund and second growth fund within the next five to six months. Although the company did not provide a comment on the matter, it has previously demonstrated success in the crypto investment space, with notable companies such as Coinbase, Circle, and Tether in its portfolio. With co-founders and managing partners Bart Stephens and Brad Stephens at the helm, Blockchain Capital has already secured around $1 billion for crypto investments.
The company's most recent major fundraising endeavor took place in 2023, when it raised $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans, and the firm currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.