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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.

By Sam Reynolds
AccessTimeIconJun 4, 2024 at 10:37 p.m. UTC
Updated Jun 4, 2024 at 10:39 p.m. UTC
(engin akyurt/Unsplash)
(engin akyurt/Unsplash)

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.

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.

Edited by Nick Baker.

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