According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is currently in the process of raising $700 million for the launch of two new funds. This development is expected to unfold over the next five to six months, as indicated by a source familiar with the matter. Despite being approached for comment, the firm declined to respond.
Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a notable track record of investing in the crypto space, with its portfolio boasting major players such as Coinbase, Circle, and Tether, and having previously secured around $1 billion in funding for crypto investments. The company's most recent major funding round took place in 2023, where it successfully raised $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 currently manages $2 billion in fee-bearing assets, with a total portfolio valuation exceeding $6 billion.