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 has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to complete the fundraising for its seventh early-stage fund and second growth fund within the next five to six months. With a portfolio valued at over $6 billion and $2 billion in fee-bearing assets under management, Blockchain Capital's co-founders and managing partners, Bart Stephens and Brad Stephens, are looking to further expand the company's investments in the crypto space.
The firm's limited partners include a range of traditional financial institutions, such as university endowments, sovereign wealth funds, and U.S. pension plans.