Crypto VC Blockchain Capital Seeks $700M for Two New Funds

Highlights:

• Blockchain Capital is raising $700 million across two new funds for crypto investments.
• The firm plans to back both early-stage projects and more established crypto companies.
• Overall crypto fundraising in April fell sharply after March was boosted by several unusually large deals.

Blockchain Capital, a venture capital firm that focuses entirely on cryptocurrency and blockchain companies, is raising $700 million across two new funds. Bloomberg reported this on Wednesday, citing a person familiar with the matter. The firm has already begun fundraising and expects to close both funds within the next five to six months.

Venture capital firms raise capital from large institutions and wealthy individuals and then invest it in startups and growing companies. Blockchain Capital has been doing this specifically for the crypto industry for years, and it has built one of the strongest track records in the space.

BLOCKCHAIN CAPITAL TARGETS $700M NEW CRYPTO FUNDS

Blockchain Capital is reportedly raising $700 million for two new investment funds.

The firm is splitting capital between early stage and growth focused strategies.

According to Bloomberg, the early fund will back experimental… pic.twitter.com/SxX7Wl6o67

— BSCN (@BSCNews) April 23, 2026

Blockchain Capital Targets Both Emerging Projects and Mature Crypto Firms

The firm is splitting the $700 million between two funds, each with a different purpose. The first is the firm’s seventh early-stage fund. This fund will back newer, experimental crypto projects that are still in early development but show strong potential.

The second is the firm’s second growth fund, which will invest in more mature crypto companies that already have real products, active users, and growing revenues but need more capital to expand.

Running two fundraises at the same time is not common. It shows that Blockchain Capital sees strong opportunity across both ends of the market right now. The firm has already started deploying some of the new capital, even though it has not officially closed either fund yet.

Blockchain Capital currently manages more than $2 billion in assets. Its previous fundraising round brought in $1 billion in total, making this new $700 million raise another significant step forward. The firm has backed some of the biggest companies in crypto, including Coinbase, Kraken, Circle, Tether, and Polymarket, names that millions of users interact with every day.

April Fundraising Drops Sharply After March’s Billion-Dollar Boost

Blockchain Capital is making this move at a time when the broader crypto funding market is sending mixed signals. According to market intelligence platform Messari, the average crypto funding deal size jumped nearly 50% over the past 30 days. That is a strong number, but it does not tell the full story.

Total crypto fundraising in April shows a very different trend. So far, projects across the industry have raised about $466 million this month, far below the $3 billion recorded in March. However, March’s total was heavily boosted by one unusually large deal.

Bitcoin mining and AI infrastructure firm Core Scientific secured $1 billion in debt financing through Morgan Stanley, which made overall fundraising look much stronger than the broader market activity actually was.

LATEST: 💰 Core Scientific has secured up to $1 billion in financing from Morgan Stanley to fund its data center buildout as it continues its pivot away from Bitcoin mining. pic.twitter.com/v61pKVxH4f

— CoinMarketCap (@CoinMarketCap) March 5, 2026

Messari analysts pointed directly at this distortion. “Capital concentration is heavily skewed by debt and late-stage mega-rounds, masking a more modest median deal size,” they said. 

They added that while large transactions like Core Scientific’s $1 billion financing and Polymarket’s $600 million undisclosed round boosted the headline numbers, the majority of deals in the market are still happening in the sub-$10 million range.