Blockchain Capital to raise $700 million for crypto investments
Venture capital firm Blockchain Capital is preparing to raise $700 million through the launch of two new funds. One fund will focus on experimental and early-stage projects, while the second will target more mature companies that have already demonstrated market traction.
According to Bloomberg, citing a source familiar with the matter, the fundraising rounds are expected to close within the next six months. However, the firm has already begun deploying part of the capital into deals. Previously, Blockchain Capital raised a total of $1 billion for crypto investments.
Venture funds play a key role in financing crypto startups. Blockchain Capital manages over $2 billion in assets and has invested in major players such as crypto exchanges Kraken and Coinbase, as well as stablecoin issuers Circle and Tether.
Crypto companies are attracting more capital
Despite a downturn in the crypto market, the average size of crypto funding deals has increased by nearly 50% over the past 30 days, according to data from analytics platform Messari.
At the same time, crypto projects have raised only $466 million so far in April, compared to $3 billion in March. The largest deal of the month was a $1 billion debt financing for Bitcoin mining and AI infrastructure company Core Scientific, arranged by Morgan Stanley.
Messari analysts note that the overall picture is skewed by large late-stage rounds and debt deals. This can create the impression of stronger capital inflows than actually exist.
According to analysts, major transactions such as Core Scientific’s $1 billion post-IPO debt financing and Polymarket’s undisclosed $600 million round significantly boosted total investment volumes. However, most activity still occurs in deals under $10 million.
Overall, monthly crypto fundraising volumes have declined significantly compared to the peaks of November 2021 and May 2022, when the market consistently attracted over $4 billion per month.
Nevertheless, Messari notes that institutional infrastructure solutions and fintech-adjacent crypto services continue to attract large investments. Examples include financial platform Slash and cross-border payments company OpenFx. Capital continues to flow into projects that bridge traditional finance and digital assets.
Why crypto companies need investment
Crypto companies primarily raise funds to scale their products and infrastructure. A significant portion of capital is spent on technology development, including building blockchain protocols, enhancing security, launching new features, and integrating with other services. For example, projects may invest in smart contract development, cross-chain solutions, or infrastructure for institutional clients.
Additionally, funding is heavily used for marketing and user acquisition. In a highly competitive market, projects spend on partnerships, exchange listings, incentive programs, and team expansion. Another key area is regulatory compliance and legal support, which is especially important for companies operating in payments and financial services.
It is worth noting that in January and February 2025, crypto projects raised over $1 billion in venture funding each month.
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