According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds. The firm, which is headquartered in San Francisco, expects to finalize the fundraising efforts for its seventh early-stage fund and second growth fund within the next five to six months. Although the company did not provide a comment when approached, it has been reported that the funds are being raised to further invest in the cryptocurrency sector.
Blockchain Capital has a notable portfolio, with investments in major digital asset companies such as Coinbase, Circle, and Tether, and has previously secured around $1 billion for crypto investments. The company's co-founders and managing partners, Bart Stephens and Brad Stephens, have been at the helm of the firm's investment efforts. In its last major fundraising round in 2023, Blockchain Capital secured $580 million for its sixth early-stage fund and a late-stage fund. The firm's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans, and it currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.