Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for the launch of two new funds, according to a recent Bloomberg report. The firm, which is headquartered in San Francisco, anticipates completing the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months.
Although the company did not respond to a request for comment, it has previously invested in notable digital asset companies such as Coinbase, Circle, and Tether, with a total investment portfolio exceeding $1 billion. Its most recent major fundraising effort was in 2023, when it 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.