Blockchain Capital Said to Seek $700 Million for New Funds (1)

Blockchain Capital, a venture-capital firm that invests in crypto, is in the process of raising $700 million for two new funds, according to a person familiar with the matter.

The firm is simultaneously raising for its seventh early-stage fund and its second growth fund, and has already begun to deploy some of the new capital, said the person, who asked to remain anonymous because the information hasn’t been made public. The round is expected to be wrapped up in five to six months, the person said.

Blockchain Capital didn’t immediately respond to a request for comment.

Blockchain Capital had previously ...