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. This move is expected to be finalized over the next five to six months. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is led by co-founders and managing partners Bart Stephens and Brad Stephens. With a history of significant raises, including $580 million for its sixth early-stage fund in 2023, Blockchain Capital manages over $2 billion in fee-bearing assets, with a total portfolio value exceeding $6 billion.
The company's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans.