Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million for the launch of two new funds, according to a recent report by Bloomberg. 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 limited partners include university endowments, sovereign wealth funds, and U.S. pension plans from the traditional financial sector.
The company's co-founders, Bart Stephens and Brad Stephens, have led the firm to raise around $1 billion for crypto investments, with its last major fundraising effort securing $580 million in 2023 for its sixth early-stage fund and a late-stage fund.