Blockchain Capital, a prominent cryptocurrency venture capital firm, is in the process of raising $700 million for the launch of 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 finalize the funding for its seventh early-stage fund and second growth fund 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 limited partners comprise a diverse range of traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans.
The company's co-founders and managing partners, Bart Stephens and Brad Stephens, have a proven track record of successful investments in the crypto space, having raised around $1 billion for crypto investment in the past.