Connect with us

Search

Cryptocurrency

Bain Capital Ventures Launches $560 Million Crypto Industry Focused Fund

The investment firm is officiating the launch of their new crypto-focused fund.

Bain Capital Ventures, an investment firm, is officially launching a $560 million fund titled Bain Capital Crypto. This fund will exclusively focus on the crypto industry, according to a report from Bloomberg.

A Bain Capital Crypto managing partner named Stefan Cohen spoke with Bloomberg, stating, “We’ve become quite high conviction we are at the beginning of a multi-decade technology shift. We really needed a dedicated team and a dedicated fund structure. That’s really what led to the addition of Bain Capital Crypto.”

The fund closed last November and reportedly has invested $100 million in a dozen crypto-related efforts which haven’t been disclosed as of yet.

This year has been, by and large, a tumultuous time for cryptocurrency markets. The firm, however, wasn’t seemingly worried regarding the issue.

Alex Evans, another managing partner at Bain Capital Crypto, said, “We are fundamentally a long-term oriented, 10-year fund. We are taking a very long view,” when speaking with Bloomberg.

“We are unfazed and in some ways uninterested in short-term market gyrations. We embrace the uncertainty of this market, we are long-term believers. When the certainty is there, it might be too late for this market.”

What’s more is, Bain Capital Crypto is also reportedly looking to make an investment in innovations of a larger range all within the crypto industry.

The specialized fund is, according to Bloomberg, considering crypto startups, in addition to DAOs or decentralized autonomous organizations, too.

Cohen further stated that the fund is expected to deploy within the next 2-3 years with the goal of investing in approximately 30 companies, too.

“They are looking for firms who are able to actively participate in governance, firms that can provide liquidity into the protocols,” he said.

Advertisement

Trending Articles

Advertisement

TRENDING ARTICLES

News

The company's COO made a heartfelt Twitter thread thanking the company for her time there, and has confirmed she's moving onto something bigger and...

News

BitOasis finds itself under the wing of the UAE's new crypto regulator.

News

The Will Smith Inu is currently experiencing a surge, but will it last?

News

Bank Leumi, one of the 2 largest banks in all of Israel, is all set to enable the holding, buying, and selling of cryptocurrency.

Blockwatch is a news and information site on crypto, digital assets, NFTs, crypto investing, and the future of money. Blockwatch is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Blockwatch is an independent operating subsidiary of Ubiquitous, Inc, which invests in cryptocurrencies and blockchain startups.

Copyright © 2022 Blockwatch™ Media, Inc. Blockwatch™ Media is a Ubiquitous company. All rights reserved.