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Bain Capital Crypto Raising Second Fund: Filing
Bain Capital has been an active investor in crypto since its initial fund launch, participating in a $115 million round for Sam Altman's Worldcoin.
Updated Jun 4, 2024, 10:39 p.m. Published Jun 4, 2024, 10:37 p.m.
Bain Capital Crypto is planning to launch a second fund, according to a U.S. Securities and Exchange Commission filing.
Bain Capital launched its first crypto fund in March 2022. The $560 million fund launched just before the collapse of Do Kwon's Luna triggered a massive rout in the crypto market. Despite the ensuing crypto winter, Bain Capital was an active investor throughout 2022 and 2023, participating in rounds such as Sam Altman's $115 million Worldcoin fundraise, privacy protocol Nocturne Labs and decentralized exchange aggregator Flood.
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Co-led by Stefan Cohen and Alex Evans, the first fund focuses on early-stage investments and liquid tokens in the decentralized finance (DeFi) and Web3 sectors and has already invested nearly $100 million in projects while actively participating in protocol governance.
Bain Capital Crypto declined to comment on the new fund through its public relations agency, citing compliance concerns.
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