According to a recent report by Bloomberg, Blockchain Capital, a prominent cryptocurrency venture capital company, is currently in the process of raising $700 million for the launch of two new funds. This development is expected to unfold over the next five to six months, as the firm works towards completing its seventh early-stage fund and second growth fund. Despite efforts to obtain a statement, the firm did not respond to requests for comment.
Blockchain Capital, which is led by co-founders and managing partners Bart Stephens and Brad Stephens, has a notable track record in crypto investments, boasting a portfolio that includes major digital asset players such as Coinbase, Circle, and Tether, with total investments amounting to approximately $1 billion. The company's most recent significant funding round took place in 2023, wherein it successfully raised $580 million for its sixth early-stage fund and a late-stage fund. The firm's investor base comprises a diverse range of 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.