Blockchain Capital, a prominent cryptocurrency venture capital firm, is currently raising $700 million to support the launch of two new funds, according to a recent report by Bloomberg. 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.
The report cites an individual familiar with the matter, although the firm has not responded to requests for comment. As a leading investor in the crypto space, Blockchain Capital has previously secured around $1 billion in funding for investments in digital assets, with notable companies such as Coinbase, Circle, and Tether in its portfolio. The company's most recent major fundraising effort took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund.
Blockchain Capital's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, with the firm currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.