Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million for two new funds, according to a recent report by Bloomberg. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to complete the fundraising for its seventh early-stage fund and second growth fund within the next five to six months. With over $1 billion already raised for crypto investments, Blockchain Capital's co-founders and managing partners, Bart Stephens and Brad Stephens, continue to expand the company's portfolio.
The firm's limited partners come from a traditional financial background, including university endowments and sovereign wealth funds, and it currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.