Bain Capital Ventures is one of the largest global startup-investment companies with assets of $5.1 billion. They have announced the creation of a $560 million fund to invest in crypto-related investments.
Bloomberg reported on March 8, 2008 that the fund had closed in November, and it had already invested $100 million in 12 unidentified projects.
Bain Capital Ventures is a long-standing investor in the crypto and blockchain industry. They have previously supported companies like BlockFi, Compound and Digital Currency Group. Bain Capital Ventures’ most recent fund BCV Fund I focuses exclusively on the crypto market.
This latest development follows a wave of venture capital interest for crypto throughout 2021. Data from Pitchbook shows that venture capital investment in crypto projects reached $25 billion last year. This is the highest ever recorded amount.
Related: PwC’s top 5 most active crypto funders in 2021.
Despite crypto asset prices being volatile in 2022, venture funds will continue to invest in the sector. Sequoia Capital, an American venture capital firm, announced in February that it had created a $600 million cryptocurrency fund. Polygon secured $450 million funding from some of the top blockchain venture firms.
The cryptocurrency market is currently in slump. The Bitcoin (BTC), price has fallen around 40% since its peak in November. This is due to concerns about the Federal Reserve’s monetary policies.
Cointelegraph reached out to Bain Capital Venture in order to obtain more details about the crypto fund. We will update this article as soon as we have more information.
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