Blockchain Capital is raising $700 million for two new crypto-focused investment funds, according to a report citing sources familiar with the matter.
The firm is structuring the raise across an early-stage fund for emerging projects and a growth fund aimed at more established companies with market traction.
The funding rounds are expected to close within six months, though the firm has already begun deploying portions of the capital, the report said.
Blockchain Capital, which manages more than $2 billion in assets, has previously backed companies including Kraken, Coinbase, Circle and Tether.
The move comes amid mixed signals in crypto venture funding, with overall capital raised declining in April compared with March despite a rise in average deal size.
Analysts at Messari said capital flows remain concentrated in large late-stage deals, masking more modest activity across smaller startups.
Institutional infrastructure and fintech-focused crypto services continue to attract funding, suggesting sustained investor interest in projects bridging traditional finance and digital assets.