Bain Capital Ventures launches $560 million crypto fund

Venture firm Bain Capital Ventures (BCV) announced the launch of a new fund dedicated exclusively to cryptocurrencies. The vehicle attracted $560 million in capital.

Our BCV team is excited about the launch of our new crypto fund – @BainCapCrypto. Congratulations to @stefancoh, @alexhevans and their colleagues who will continue to back renegades and pioneers building the next generation of open internet infrastructure. https://t.co/XuWy8kCfTV pic.twitter.com/t8IX8Oz88F

— Bain Capital Ventures (@BainCapVC) March 8, 2022

Funds for Bain Capital Crypto were raised as early as November 2021. The fund has already invested in a number of projects, including Compound Finance, MakerDAO and dYdX. In an interview with Bloomberg, the fund’s manager Stefan Cohen noted that $100 million had been allocated to these aims.

The firm noted that the fund is oriented toward a long-term horizon, hence it does not take short-term price volatility into account. The vehicle will invest the capital in shares of industry players and digital tokens. The latter are planned to be acquired from a DAO or on secondary markets.

Recall that in February 2022, Sequoia Capital announced its intention to raise up to $600 million for the first sub-fund, focused on liquid tokens and cryptocurrencies.

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