One of the world’s leading private investment firms Bain Capital Ventures launches a $560 million fund, which is, for the first time ever, focused only on cryptocurrency projects.
Bain Capital has been a large investor in the crypto industry for the past seven years. Some companies they have funded include BlockFi Inc., Compound, and Digital Currency Group.
”We have 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 lead to the addition of Bain Capital Crypto,” Stefan Cohen, managing partner at Bain Capital Crypto, told Bloomberg.
Even though the fund launched during uncertain times for the crypto market, with Bitcoin down almost 40% since its all-time high in November, Bain Capital still sees future growth in crypto, especially in the long run.
“We are fundamentally long-term oriented, 10 year fund. We are taking a very long view. 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,” Cohen said.
The company aims to fund around 30 companies – from crypto startups to DAOs and plans to use the whole fund in the next two to three years.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
