Blockchain Capital, a prominent cryptocurrency venture capital firm, is currently raising $700 million to support two new funds, according to a recent Bloomberg report. The firm, which expects to finalize the funds in the next five to six months, has not commented on the matter. With a portfolio boasting major digital asset players such as Coinbase, Circle, and Tether, Blockchain Capital has previously secured around $1 billion for crypto investments. The company's managing partners, Bart Stephens and Brad Stephens, oversee a firm that manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.
Its limited partners hail from traditional financial backgrounds, including university endowments and U.S. pension plans.