Blockchain Capital targets $700 million for two new crypto funds

Blockchain Capital is looking 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 company is raising capital for its seventh seed fund and second growth fund, and has already begun deploying some of the new funds. The fundraising process is expected to close within five to six months.

The new addition adds to the firm's standing in the sector. Blockchain Capital claims on its website that it is the first venture firm dedicated to crypto builders and now invests in its sixth multi-stage fund and manages more than $2 billion in assets.

As the broader venture market evolves in 2026, the timing is notable, even if fundraising is selective. Pitchbook and NVCA said first-quarter US venture deal value reached $267.2 billion, but fundraising is moving differently, with 73.1% of committed capital going to just five VC firms, they added.

PitBook reported in January that the crypto VC deal in 2018 It rose to $19.7 billion in 2025, helped by renewed growth equity activity and strong expectations for 2026 public listings.

According to Crunchbase data, AI companies took an estimated $242 billion or 80% of global venture funding in the first quarter of 2026, highlighting how competitive the capital-raising environment is for other sectors, including crypto.