Bain Capital Ventures Launches $560 Million Crypto Fund

Investment firm Bain Capital Ventures is launching a $560 million fund called Bain Capital Crypto—a fund that is focused exclusively on the crypto industry, per Bloomberg. 

“We’ve become quite high conviction we are at the beginning of a multi-decade technology shift. We really needed a dedicated team and a dedicated fund structure. That’s really what led to the addition of Bain Capital Crypto,” a Bain Capital Crypto managing partner Stefan Cohen told Bloomberg. 

The fund closed in November last year and has reportedly invested $100 million into a dozen crypto-related efforts that have not yet been disclosed. 

The year has, by and large, been a tumultuous time for the cryptocurrency markets. Since January 1, 2022, Bitcoin and Ethereum have dropped by approximately 17% and 32% respectively, per CoinMarketCap. 

BitcoinBTC · USD

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24H7D1M1YYTD

Sep 4Sep 6Sep 7Sep 9Sep 11

$81.2k$79.7k$78.1k$76.6k

24h HighHigh$78,507

24h LowLow$76,546

VolVol$1.2B

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Today$76,000 to $78,000$76k–$78k57% chanceThis weekBelow $78,000Below $78k62% chance

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However, the investment firm isn’t worried. 

“We are fundamentally a long-term oriented, 10-year fund. We are taking a very long view,” Alex Evans, another managing partner at Bain Capital Crypto, told Bloomberg. 

“We are unfazed and in some ways uninterested in short-term market gyrations. We embrace the uncertainty of this market, we are long-term believers. When the certainty is there, it might be too late for this market.” 

Bain Capital and DAOs

Bain Capital Crypto is reportedly looking to invest in a wide range of innovations within the crypto industry. 

According to Bloomberg, the specialized fund is considering crypto startups, as well as decentralized autonomous organizations (DAOs). 

Cohen added that the fund is expected to deploy in the next two to three years and invest in approximately 30 companies. 

“They are looking for firms who are able to actively participate in governance, firms that can provide liquidity into the protocols,” Cohen added.