Coinbase backer Blockchain Capital hunts $700 million for new funds
Blockchain Capital is raising $700 million for two new funds to invest in early-stage and growth-stage crypto companies.Summary
Venture capital firm Blockchain Capital, a backer of Coinbase, is seeking to raise $700 million for two new funds: its seventh early-stage fund and its second growth fund. The San Francisco-based firm expects these funds to be finalized within five to six months. Blockchain Capital, led by co-founders Bart Stephens and Brad Stephens, has previously raised approximately $1 billion for crypto investments and has companies like Coinbase, Circle, and Tether in its portfolio. Their last significant fundraising in 2023 secured $580 million for a sixth early-stage fund and a late-stage fund. The firm's investors primarily come from traditional finance, including endowments and pension plans. Blockchain Capital currently manages $2 billion in fee-bearing assets and a total portfolio valued at over $6 billion.
(Source：CoinDesk)