According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is in the process of raising $700 million for the launch of two new funds. These funds, which include the firm's seventh early-stage fund and its second growth fund, are expected to be finalized over the next five to six months, as stated by a source familiar with the matter. Despite being approached for comment, the firm did not respond to the request.
Blockchain Capital, co-founded by Bart Stephens and Brad Stephens, has a history of successful crypto investments, boasting a portfolio that includes notable digital asset companies such as Coinbase, Circle, and Tether, with approximately $1 billion raised for crypto investments. The company's most recent significant fundraising effort took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. The firm's investor base comprises traditional financial institutions, including university endowments, sovereign wealth funds, and U.S.
pension plans, with the company currently managing $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.