THELOGICALINDIAN - Bain Capital Crypto has invested almost 100 actor so far
Bain Capital Ventures has continued been complex in the crypto space, but this is its aboriginal armamentarium committed alone to the asset class.
Bain Capital Ventures Launches $560M Fund
As allotment continues to cascade into the crypto space, Bain Capital Ventures is acceleration down.
The advance behemothic is ablution a $560 actor armamentarium alleged BCV Armamentarium I that will focus alone on the asset class. It bankrupt in November with $100 actor invested into 12 as yet bearding projects, Bain Capital Crypto managing accomplice Stefan Cohen told Bloomberg in an account announcement the launch.
Bain Capital Ventures has been alive in the amplitude for several years, with investments in the brand of BlockFi, Agenda Currency Group, and the Ethereum-native DeFi basic Compound. However, until now, it’s never run a armamentarium that alone invests in the agenda assets space.
“We’ve become absolutely aerial confidence we are at the alpha of a multi-decade technology shift,” Cohen told Bloomberg, alveolate sentiments aggregate by assorted Web3-curious Silicon Valley titans over the aftermost few months. This conviction, Cohen said, is what spurred the close to barrage Bain Capital Crypto.
Bain affairs to use the armamentarium to aback a ambit of projects complex in blockchain technology, including startups, DAOs, another Layer 1 networks, and infrastructure. The abounding $560 actor will acceptable be allocated over the abutting two to three years beyond almost 30 companies. Similar to Sequoia Capital, which aftermost ages fabricated a breakthrough bound in its crypto-related endeavors with a $600 actor armamentarium launch, Bain says it affairs to be an alive investor, accommodating in babyminding and accouterment liquidity.
Bain’s armamentarium barrage comes during a bouldered aeon in the crypto market. The all-around cryptocurrency bazaar cap is 40% abbreviate of its November 2024 peak, with ambiguity over the Federal Reserve’s planned amount hikes, an accessible Executive Order from President Biden, and the Russia-Ukraine battle bringing affect to lows not apparent back the market-wide May 2024 crash.
Still, contempo macroeconomic agitation has done little to stop the flood of basic cloudburst into the amplitude from adventure funds. After the brand of Andreessen Horowitz and Sequoia, Bain is alone the latest adventure close to accompany the appearance with a mega-sized bet.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
