Blockchain Capital Raising $700 Million Across Two New Funds
Crypto VC firm pursuing seventh early-stage fund and second growth fund simultaneously, building on $2B+ AUM portfolio
Quick Look
- Blockchain Capital is raising $700 million across two new funds—its seventh early-stage fund and second growth fund—while already deploying capital.
- The firm led a $12M round for Paxos Labs last week and holds portfolio positions in Coinbase, 1inch, Aave, Circle, and Tether.
- The fundraising closes in 5-6 months.
AI-generated summary
Why It Matters
Blockchain Capital is among the most established crypto venture firms, with portfolio companies including major exchanges and DeFi platforms. The firm manages over $2 billion in assets and has been actively deploying capital, including a recent lead investment in Paxos Labs.
Blockchain Capital is raising $700 million across two new funds, according to Bloomberg sources. The venture capital firm is pursuing its seventh early-stage fund and second growth fund simultaneously. The firm has already begun deploying some of the new capital, with the fundraising round expected to close within five to six months.
Blockchain Capital is raising $700 million across two new funds, according to Bloomberg. Citing a source familiar with the matter, Bloomberg reported that the venture capital firm is simultaneously pursuing its seventh early-stage fund and its second growth fund, and has already deployed some of the new capital. The fundraising effort builds on Blockchain Capital's existing portfolio of over $2 billion in assets under management. The firm demonstrated its continued investment activity last week by leading a $12 million funding round for Paxos Labs, according to industry reports. Blockchain Capital's VC portfolio includes crypto exchange Coinbase, DeFi platforms 1inch and Aave, and stablecoin issuers Circle and Tether, positioning it among the sector's most established venture players.
Crypto venture capital The fundraising effort comes amid volatile conditions for crypto venture capital. Crypto VC funding climbed to $2.42 billion in March from $683.6 million in February and $1.31 billion in January, before dropping to about $466 million in April, according to industry data. According to a recent JP Morgan report, crypto has "reemerged as a dominant driver of fintech funding," accounting for some $3.5 billion—45% of all fintech investment—in the year to date. Crypto treasury firms are branching out into venture capital, too, with Tokyo-listed Metaplanet last month unveiling a venture arm with plans to deploy around $25 million into companies building Bitcoin financial infrastructure.
Open Questions
- What is the exact split between early-stage and growth fund sizes?
- Which specific sectors within crypto will the funds target?
- How does this compare to previous fund raises in size?
