Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for the launch of two new funds, according to a recent Bloomberg report. The firm, which has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to finalize the fundraising efforts 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 include a range of traditional financial institutions, such as university endowments and sovereign wealth funds.
The company's co-founders, Bart Stephens and Brad Stephens, have successfully raised around $1 billion for crypto investments in the past, with the most recent major raise being $580 million for its sixth early-stage fund in 2023.