Since launching its initial fund, Bain Capital has actively invested in crypto, including a $115 million round for Sam Altman’s Worldcoin.
Bain Capital Crypto is set to launch a second fund, as revealed in a recent filing with the U.S. Securities and Exchange Commission.
In March 2022, Bain Capital introduced its inaugural crypto fund, a substantial $560 million venture that preceded the tumultuous collapse of Do Kwon’s Luna and the subsequent market downturn. Undeterred by the crypto winter, Bain Capital remained a key investor throughout 2022 and 2023, backing significant rounds like Sam Altman’s $115 million Worldcoin fundraise, privacy protocol Nocturne Labs, and decentralized exchange aggregator Flood.
The first fund, co-led by Stefan Cohen and Alex Evans, targets early-stage investments and liquid tokens within the decentralized finance (DeFi) and Web3 sectors. It has already committed nearly $100 million to various projects and actively engages in protocol governance.
While Bain Capital Crypto has chosen not to comment on the new fund due to compliance considerations, its continued investment activity underscores a strong confidence in the future of the crypto market.