According to a recent report by Bloomberg, Blockchain Capital, a leading cryptocurrency venture capital firm, is in the process of raising $700 million for the launch of two new funds. This development is expected to unfold over the next five to six months, as indicated by a source familiar with the matter.
Despite efforts to solicit a response, the firm did not provide comment to CoinDesk. Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a notable history of crypto investments, boasting an impressive portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, with approximately $1 billion raised for crypto investments.
The company's most recent substantial funding effort was in 2023, where it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. Notably, the firm's limited partners hail from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S.
pension plans, with the company currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.