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 has previously invested in major digital asset players such as Coinbase, Circle, and Tether, is expected to complete 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 has established itself as a significant player in the crypto investment space. The company's co-founders, Bart Stephens and Brad Stephens, have led the firm to raise approximately $1 billion for crypto investments to date.
The latest funding round is anticipated to further solidify the firm's position in the market, with a diverse range of limited partners from traditional financial backgrounds, including university endowments and sovereign wealth funds.