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 is headquartered in San Francisco, aims to complete the fundraising process for its seventh early-stage fund and second growth fund within the next five to six months. Although the company did not respond to requests for comment, it has previously secured around $1 billion in investments for the crypto sector, with notable digital asset companies such as Coinbase, Circle, and Tether in its portfolio.
In 2023, the firm successfully raised $580 million for its sixth early-stage fund and a late-stage fund. The limited partners of Blockchain Capital primarily come from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans. Currently, the firm manages $2 billion in fee-bearing assets, with its total portfolio valued at over $6 billion.