Bain Capital Ventures files to create a new crypto investment fund

Sep 9, 2021 | The Block News | 0 comments

bain-capital-ventures-files-to-create-a-new-crypto-investment-fund

Months after announcing a $1.3 billion in fresh funds to invest in startups, Bain Capital Ventures — the venture arm of Bain Capital — has disclosed the creation of a new crypto-focused fund, public filings show.

The fund, dubbed BCV Crypto Fund I, L.P., has made no sales of the September 8 filing, which names Bain Capital Ventures partners Ajay Agarwal and Enrique Salem. BCV Crypto Fund is identified as a pooled investment fund.

The fund’s existence represents a new foray for the Boston-based firm, which has invested in a number of crypto industry companies to date. These include Digital Currency Group, Compound and Lolli, among others. Bain Capital Ventures co-led BlockFi’s $350 million funding round earlier this year.

In May, BCV announced the raising of $1.3 billion in funding to be invested across two funds. As reported at the time by TechCrunch, the two funds are dedicated to seed and Series A deals and growth-stage deals, respectively. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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