Overview
- Blockchain Capital is targeting $700 million across two vehicles, Bloomberg reported Thursday.
- The effort comprises a seventh early-stage fund and a second growth fund with expected closes in about five to six months.
- The firm has already begun deploying some of the new capital, and it recently led a $12 million round for Paxos Labs.
- Blockchain Capital reports roughly $2 billion in fee-bearing assets and a portfolio valued above $6 billion, with backers that include endowments, sovereign funds, and U.S. pensions.
- Industry data show average crypto deal sizes up nearly 50% over the past month even as April funding fell to about $466 million after March’s near $3 billion.