Blockchain Capital seeks $700 million for two new funds: Bloomberg

Blockchain Capital, a venture capital firm specializing in cryptocurrency, is reportedly seeking to raise $700 million across two new funds. According to Bloomberg, these funds include a second growth fund and its seventh early-stage fund. The firm has already begun deploying some of this capital, with the fundraising process anticipated to conclude within five to six months. Blockchain Capital manages approximately $2 billion in fee-bearing assets and has invested in prominent crypto companies such as Coinbase, Circle, Polymarket, and Tether. The firm recently led a $12 million funding round for Paxos Labs. This development occurs amidst a broader trend of increased crypto VC funding in March, though many firms are facing challenges in raising capital.

(Source：The Block)