Blockchain Capital is raising $700M for 2 new funds: Report

The new funding rounds are expected to be completed in the next six months, but the firm has already begun deploying some of the new capital, according to a person familiar with the matter.

Crypto-focused venture capital firm Blockchain Capital is in the process of raising another $700 million for two new funds, according to Bloomberg, citing a person familiar with the matter.

The firm is raising capital for its seventh early-stage fund aimed at experimental or early-stage projects as well as a second growth fund, which covers more mature companies that already have some traction, Bloomberg reported on Tuesday.

Blockchain Capital previously raised a total of $1 billion for crypto investments, the source said. The new funding rounds are expected to be completed in the next six months, but the firm has already begun deploying some of the new capital.

Read more