Bain Capital Ventures Unveils $560 Million Fund for Crypto, Blockchain Projects

Bain Capital Ventures, one of many world’s largest enterprise capital corporations with $5.1 billion (roughly Rs 39,060 crore) in belongings below administration, has introduced the launch of a brand new crypto fund. forex of 560 million {dollars} (roughly 4,289 crores of rupees). The corporate is wanting to make use of the fund to spend money on all the pieces from crypto start-ups to decentralized autonomous organizations (DAOs) in areas equivalent to layer 1 blockchains and storage. The corporate plans to roll out the fund over the following two to 3 years and spend money on round 30 firms.

the funds closed in November, in response to Bloomberg report, and it has already invested $100 million (about Rs. 765 crore) in 12 unidentified initiatives. By way of this enterprise, Bain Capital goals to be a way more lively investor than traditional in serving the wants of crypto start-ups.

“We are looking for companies that can actively participate in governance, companies that can provide liquidity to protocols. The crypto fund can invest in company equity, pledges of future tokens, or actual coins, which it could acquire from Decentralized Autonomous Organizations (DAOs) treasuries or secondary markets,” Cohen defined. at Bloomberg.

Cohan additionally revealed that Bain Ventures could contemplate launching extra crypto-focused funds as soon as the fund’s capital rolls out. “Our view is that this is a 10-20 year opportunity, and we’re building a platform here that we believe can facilitate multiple funds over a period of time,” Cohen defined.

Bain Capital Ventures has a confirmed monitor report of investing within the cryptocurrency and blockchain area, having beforehand backed BlockFi, Compound, and Digital Foreign money Group. Bain Capital Ventures’ latest fund, BCV Fund I, is the primary of its sort, focusing solely on the cryptocurrency sector.

The present growth follows a rise in enterprise capital curiosity in crypto in 2021. Based on knowledge from Pitchbook, enterprise capital funding in cryptocurrency companies hit an all-time excessive of $25 billion. million (about Rs. 1,91,505 crore) final yr, the best on report.

Though crypto asset costs stay extremely unstable in 2022, enterprise capitalists have continued to make vital investments within the area. Sequoia Capital, an American enterprise capital agency, introduced the institution of a $600 million (round Rs 4,595 crore) cryptocurrency fund in February. Polygon has raised $450 million (about Rs 3,364 crore) in a funding spherical led by a number of of the blockchain trade’s main enterprise capital corporations.

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