Bain Capital Ventures Launches $560 Million Crypto Fund (1)

Bain Capital Ventures -- one of the world’s biggest startup-investment firms -- is launching a $560 million fund focused exclusively on crypto-related efforts.

The fund closed in December, and the firm has already invested $100 million into a dozen efforts, which it doesn’t yet disclose, said Stefan Cohen, a managing partner at Bain Capital Crypto, which is running the fund.

Bain Capital Ventures has been investing in crypto for the last seven years, pouring money into crypto lender BlockFi Inc., decentralized-finance lender Compound and Digital Currency Group, which runs a slew of crypto-related businesses. But its new BCV Fund ...