Bain Capital Ventures launches crypto-focused fund worth $560 million

Bain Capital Ventures (BCV), the venture arm of 38-year-old private equity firm Bain Capital, has launched its first crypto-focused fund worth $560 million, Bloomberg reported Tuesday.

BCV has been investing in crypto startups for the last seven years, but its Crypto Fund I will exclusively back such companies. BCV first filed for this fund last September, closed it in November, and has already invested $100 million in several yet-to-be-disclosed startups.

BCV's current crypto portfolio includes companies such as BlockFi, Compound, Digital Currency Group, and Lolli. With the new fund, it's looking to back all types of crypto startups from DAOs to Layer 1 blockchains to storage.

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