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Bain Capital Crypto Managing Partners Alex Evans and Stefan Cohen. Photo by Bain Capital Crypto. Art by Mike Sullivan.

Bain Capital Ventures Launches Crypto Fund; Crypto Meets Drug Development

Photo: Bain Capital Crypto Managing Partners Alex Evans and Stefan Cohen. Photo by Bain Capital Crypto. Art by Mike Sullivan.

Another week, another gigantic crypto fund. Bain Capital Ventures (BCV) is the latest to join the fray, unveiling a $560 million fund on Tuesday dedicated to crypto investments. The new fund brands itself as Bain Capital Crypto (BCC), separate from BCV, which is a limited partner in the new fund. The crypto fund has backed 12 startups to date and has invested approximately $100 million, Stefan Cohen, managing partner of Bain Capital Crypto, told me in an interview.

The Information reported in October that Bain was raising a $300 million crypto fund. The final amount raised nearly doubles that, indicating strong interest from investors. That demand has helped other venture firms like Andreessen Horowitz raise dedicated, multibillion-dollar crypto funds.

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