According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million to support the launch of two new funds. These funds, which include the firm's seventh early-stage fund and its second growth fund, are anticipated to be finalized over the next five to six months, as stated in the report, citing information from a knowledgeable source. Despite being contacted for comment, the firm did not respond to the inquiry.
Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a history of investing in the crypto sector, with approximately $1 billion raised for such investments. Notable companies in its portfolio include Coinbase, Circle, and Tether. The company's most recent significant fundraising effort occurred in 2023, when it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. The majority of Blockchain Capital's limited partners originate from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S.
pension plans. Currently, the firm manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion, as reported by Bloomberg.