According to a recent report by Bloomberg, Blockchain Capital is currently in the process of raising $700 million for the launch of two new funds. The firm, which specializes in cryptocurrency investments, expects to finalize the fundraising efforts for its seventh early-stage fund and second growth fund over the course of the next five to six months.
As a prominent player in the crypto venture capital space, Blockchain Capital has a portfolio that includes major digital asset companies such as Coinbase, Circle, and Tether. With its co-founders and managing partners, Bart Stephens and Brad Stephens, at the helm, the company has previously secured around $1 billion in investment capital.
The firm's most recent major fundraising initiative took place in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base comprises a diverse range of traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, with the firm currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.