According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital firm, is seeking to raise $700 million for the launch of two new funds. This development is part of the company's efforts to establish its seventh early-stage fund and second growth fund, which are slated for completion over the next five to six months, as stated in the report, citing information from a knowledgeable source. When approached for comment, the firm did not provide a response to CoinDesk's inquiry. Under the leadership of co-founders and managing partners Bart Stephens and Brad Stephens, Blockchain Capital has amassed approximately $1 billion in investments in the cryptocurrency sector, boasting a portfolio that includes major digital asset players such as Coinbase, Circle, and Tether.
The company's most recent significant funding round occurred in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. Blockchain Capital's investor base primarily comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans. As reported by Bloomberg, the firm currently manages $2 billion in fee-generating assets, with its total portfolio valued in excess of $6 billion.