US EditionBlockchain Capital Aims To Raise $700M Despite Crypto Downturn
The crypto venture firm is targeting capital for a seventh early-stage fund and a second growth fund as deal flow slows, Bloomberg reported.
- On Thursday, The San Francisco-based Blockchain Capital announced plans to raise $700 million across two new funds: a seventh early-stage vehicle and a second growth fund.
- Founded in 2013 by Bart Stephens and Brad Stephens, the firm manages $2 billion in assets and holds a portfolio worth more than $6 billion, including Coinbase, Circle, and Tether.
- Despite a struggling market, Dragonfly Capital raised $650 million in February, while Andreessen Horowitz's Web3 arm A16z aims to gather $2 billion for blockchain investments.
- Managing Partner Haseeb Qureshi noted the "gloom of a bear market," adding that "spirits were low and fear is extreme" as both funds expect to close within five to six months.
- The firm maintains a TradFi-focused investor base including university endowments and pension plans, while holding significant investments in Kraken, OpenSea, and Polymarket.
12 Articles
12 Articles
Blockchain Capital Aims To Raise $700M Despite Crypto Downturn
Blockchain Capital is looking to raise $700 million for two new funds, despite declines in the overall cryptocurrency market. The firm is raising funds for its seventh early-stage vehicle and a second growth fund. Both funds expect to close within the next five to six months, according to Bloomberg News. Bitcoin (CRYPTO: BTC) and the broader $2.3 trillion digital asset market are bleeding retail capital as traders pivot into equities. Plunging c…
Blockchain Capital Expands With $700M Raise for Two New Funds
Blockchain Capital is raising $700 million for two new crypto investment funds, according to Bloomberg. The new capital would support both early-stage and growth-focused deals, showing that selected parts of the digital asset sector still continue to attract investor interest. Bloomberg reported that the firm is working on its seventh early-stage fund and a separate growth fund. The early-stage vehicle would target experimental projects. The gro…
Blockchain Capital aims to raise 700 million dollars for new investment funds - The Cryptocurrency Post
The venture capital firm Blockchain Capital aims to raise 700 million dollars to finance two new investment vehicles, according to a report by Bloomberg this Wednesday, April 22. This initiative arises at a time of reconfiguration for the sector, where institutional interest is shifting toward more mature companies. The firm has already begun deploying part of the capital even though the formal fundraising process is expected to conclude in six …
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