Blockchain Capital, a venture capital company founded by Bart Stephens and Brad Stephens in 2013, has successfully closed two new funds, raising a total of $580 million.
The firm’s general partner, Spencer Bogart, confirmed the news to TechCrunch, stating that the funds consist of a sixth early-stage fund and the firm’s first “opportunity fund.”
Approximately two-thirds of the $580 million will be allocated to the early-stage fund, while the remaining one-third will be dedicated to the opportunity fund.
Blockchain Capital Raise For Two New Crypto Funds
Per the report, the sixth early-stage fund, valued at $380 million, will primarily focus on investing in newer companies and protocols during pre-seed and Series A funding rounds. On this matter, Spencer Bogart claimed:
It’s doing more of what