Blockchain Capital Seeks $700M for Two New Crypto Funds

Blockchain Capital is raising $700 million across two new crypto-focused funds — its seventh early-stage fund and second growth fund — and has already deployed some capital. The move adds to the firm’s $2+ billion in assets under management and follows its recent $12 million lead investment in Paxos Labs. The article frames the fundraising amid a volatile but resurging crypto VC market (March VC funding reached $2.42B before dropping to ~$466M in April) and broader institutional adoption trends, including public companies holding large Bitcoin positions and new crypto investment products. Market impact: the sizable fundraise signals ongoing institutional appetite for crypto startups and infrastructure, a bullish indicator for venture-funded crypto development and supportive for crypto asset demand.