Blockchain Capital Seeks $700M for Two New Funds

Blockchain Capital, a prominent San Francisco-based venture capital firm focused on cryptocurrency and blockchain investments, is seeking to raise $700 million across two new funds targeting early-stage and growth-stage projects in the digital asset sector.

The firm is currently fundraising for its seventh early-stage fund, which will support experimental and nascent blockchain initiatives, and its second growth fund, aimed at more established companies with proven market traction. According to people familiar with the matter, the process is expected to conclude within the next five to six months, though Blockchain Capital has already begun deploying portions of the targeted capital into select opportunities. The firm did not immediately respond to requests for comment.

Founded and led by managing partners Bart and Brad Stephens, Blockchain Capital has established itself as a key player in crypto venture investing. It has previously raised approximately $1 billion across multiple funds, including a $580 million round in 2023 for its sixth early-stage fund and a late-stage vehicle. The firm currently oversees about $2 billion in fee-bearing assets and a total portfolio valued at...