According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital firm, is seeking to raise $700 million for the launch of two new funds. The firm, which is headquartered in San Francisco, expects to finalize the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months. The company has declined to comment on the matter.
As a leading investor in the crypto space, Blockchain Capital has previously secured around $1 billion in funding, with notable investments in major digital asset companies such as Coinbase, Circle, and Tether. The firm's co-founders and managing partners, Bart Stephens and Brad Stephens, have been at the helm of the company's investment endeavors. Blockchain Capital's last major funding round took place in 2023, when it raised $580 million for its sixth early-stage fund and a late-stage fund.
The company's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S. pension plans, and it currently manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.