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 has previously invested in major digital asset companies such as Coinbase, Circle, and Tether, is expected to finalize the fundraising process for its seventh early-stage fund and second growth fund 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 has established itself as a significant player in the crypto investment landscape. The company's co-founders, Bart Stephens and Brad Stephens, have led the firm to raise approximately $1 billion for crypto investments to date. The latest fundraising effort follows the company's previous major raise of $580 million in 2023 for its sixth early-stage fund and a late-stage fund.