Blockchain Capital is reportedly raising $700 million across two new funds, including a second growth fund and a seventh early-stage fund.
The firm has already started deploying part of the capital and expects the fundraising process to conclude within five to six months.

Blockchain Capital is back in the market for fresh capital, and the size of the raise says something about how venture appetite for crypto is shifting again.

According to Bloomberg, the crypto-focused venture firm is seeking $700 million across two new funds. One is its second growth fund.

The other is its seventh early-stage fund. That split matters. It suggests the firm is not only looking for exposure to young crypto startups, but also to more mature companies that need larger checks and longer support.

The raise points to a broader return of crypto venture confidence

The timing is notable. Venture funding in crypto has been uneven for much of the past two years, with capital concentrating around infrastructure, stablecoins, tokenization and a small number of higher-conviction themes. A $700 million target from a firm like Blockchain Capital suggests there is still enough institutional confidence to back both ends of that market.

Bloomberg reported that the fundraising process is expected to take five to six months. It also said the firm has already begun deploying some of the new capital, which gives the effort a slightly unusual feel. This is not a case of waiting for a final close before putting money to work. The firm appears to be moving in parallel.

Blockchain Capital is leaning on a long crypto track record

Blockchain Capital manages about $2 billion in fee-bearing assets, according to the report, and has backed some of the better-known names in the sector, including Coinbase, Circle, Polymarket and Tether.

That history matters because in crypto venture, brand and timing are tightly linked. Firms that backed the category early tend to have better access to the next cycle’s more competitive deals, especially when fundraising turns selective.

The company has also remained active recently. Last week, it led a $12 million round for Paxos Labs, another signal that it is still writing checks even before this new raise is fully wrapped up.

For the market, the headline is not only the $700 million number. It is that a long-established crypto venture firm is trying to raise across both growth and early stage at once, which usually means it sees opportunity across the stack rather than in just one narrow pocket of the industry.

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