Blockchain Capital is seeking to raise $700 million for two new crypto focused funds, according to a Bloomberg report citing a person familiar with the matter.
The report said the firm is raising capital for its seventh early stage fund and its second growth fund, and has already started putting part of the new money to work. The fundraising process is expected to close within five to six months.
The new raise would add to the firm’s long-standing position in the sector. On its website, Blockchain Capital says it was the first venture firm dedicated to crypto builders and now manages more than $2 billion in assets while investing from its sixth multi-stage fund.
The timing is notable because the broader venture market has improved in 2026, even as fundraising remains selective. PitchBook and NVCA said first quarter US venture deal value reached $267.2 billion, but added that fundraising is moving on a different path, with 73.1% of committed capital going to just five VC firms.
PitchBook reported in January that crypto VC deal value rose to $19.7 billion in 2025, helped by renewed growth equity activity and stronger expectations for public listings in 2026.
According to Crunchbase data, AI companies absorbed roughly $242 billion in the first quarter of 2026, or about 80% of global venture funding, underscoring how competitive the capital raising environment has become for other sectors, including crypto.