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. The firm, which is headquartered in San Francisco, anticipates completing the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months. The report cites a person familiar with the matter, but the firm has not responded to requests for comment. As a leading investor in the crypto space, Blockchain Capital has previously raised approximately $1 billion for investments in digital assets, with notable companies such as Coinbase, Circle, and Tether in its portfolio.
The company's co-founders and managing partners, Bart Stephens and Brad Stephens, have been at the helm of the firm's investment efforts. Blockchain Capital's most recent major funding round took place in 2023, when it secured $580 million for its sixth early-stage fund and a late-stage fund. The firm's limited partners come from a variety of traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans.
Currently, Blockchain Capital manages $2 billion in fee-bearing assets, with a total portfolio valued at over $6 billion.