Blockchain Capital, a prominent cryptocurrency venture capital firm, is reportedly seeking to raise $700 million for the launch of two new funds, as reported by Bloomberg on Thursday. The firm, headquartered in San Francisco, aims to complete its seventh early-stage fund and second growth fund within the next five to six months, according to sources familiar with the matter. Despite requests for comment, the company did not provide a response.
As a leading investor in the crypto space, Blockchain Capital has previously secured around $1 billion in funding, boasting an impressive portfolio that includes major digital asset players such as Coinbase, Circle, and Tether. The company's co-founders and managing partners, Bart Stephens and Brad Stephens, have been instrumental in driving its growth. Its most recent major fundraising effort took place in 2023, when it raised $580 million for its sixth early-stage fund and a late-stage fund.
Notably, the firm's limited partners primarily hail from traditional financial backgrounds, including university endowments, sovereign wealth funds, and U.S. pension plans.
With $2 billion in fee-bearing assets under management and a total portfolio valued at over $6 billion, Blockchain Capital continues to be a significant player in the crypto investment landscape.