Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for two new funds, according to a recent Bloomberg report. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to finalize the funding round 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 latest funding effort is set to further solidify its position in the crypto investment landscape. The company's co-founders, Bart Stephens and Brad Stephens, have a track record of successful investments, with a total of around $1 billion raised for crypto investments to date. The firm's limited partners predominantly come from a traditional financial background, including university endowments, sovereign wealth funds, and U.S.
pension plans.