Blockchain Capital Seeks $700 Million for New Funds

AI Summary

Blockchain Capital is aiming to raise $700 million across two funds: its seventh early-stage fund and its second growth fund, with fundraising expected to close in five to six months. The company has more than $2 billion in assets under management and has invested in firms like Coinbase (COIN) and Tether. Recent industry data shows crypto funding increased from $683.6 million in February to $2.42 billion in March before dropping to about $466 million in April. This raises concerns about market volatility and the selective nature of current VC activity in the crypto sector.