Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for two new funds, as per a recent Bloomberg report. The firm, headquartered in San Francisco, is expected to finalize the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months, according to sources familiar with the matter. Despite attempts to solicit a response, the firm declined to comment on the news. With a portfolio boasting notable digital asset companies such as Coinbase, Circle, and Tether, Blockchain Capital has established itself as a significant player in the crypto investment landscape, having previously secured around $1 billion in funding.
The company's most recent major fundraising effort took place in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. Notably, the firm's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and US pension plans, with the company currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.