Bain Capital Ventures has launched a cryptocurrency investment fund known as BCV Crypto Fund I, L.P. in step with a filing with the Securities and Alternate Fee (SEC) on September 8, 2021.
Bain Unveils Crypto Fund
Bain Capital Ventures, the VC company of BainCapital, surely among the excellent multi-asset various investment companies on this planet, has secured SEC acclaim for the rollout of its digital currency-targeted investment fund.
Named BCV Crypto Fund I, L.P, the crypto fund is a first of its kind for the company. Though the mode of operation of the original crypto fund is tranquil undisclosed, the filing, nonetheless, reveals it’s a pooled investment fund, with Bain Capital’s partners, Ajay Agarwal and Enrique Salem listed as government officers.
Established in 1984 by James Nhirny and Michael Krupka, Bain Capital Ventures invests in tech-targeted seed to growth-stage startups. Bain Capital Ventures has made a total of 508 investments since its begin and it in the intervening time has $5.1 billion in sources under management (AUM).
Final Could even, Bain Capital Ventures launched that it has raised $1.3 billion it plans to make investments in two funds. At the time, the company made it sure that $950 million will be pumped into seed and Series A deals, while $350 million will recall care of growth-stage alternatives.
Bain Capital Ventures has invested in a host of cryptocurrency, decentralized finance, and blockchain-basically basically based mostly projects previously, including Digital Currency Crew, Compound Finance, and BlockFi.
Crypto Adoption on the Upward thrust
No topic the moderately draconian cryptocurrency laws in the US, institutional traders are an increasing selection of latching onto crypto. Per Statista, as of Q1, 2021, 43 percent of the realm’s crypto funds are basically basically based mostly in the U.S.
As reported by BTCManager on August 5, 2021, JPMorgan, surely among the excellent lenders on this planet, launched the begin of a deepest fund designed to give its successfully off purchasers publicity to bitcoin (BTC).
In the identical vein, in gradual August 2021, Wells Fargo, the 16th-greatest monetary institution on this planet, joined forces with Contemporary York Digital Funding Crew (NYDIG) and FS Investments to begin a passively-managed bitcoin fund.
So a ways, monetary regulators in the U.S. are but to approve any cryptocurrency swap-traded fund (ETF).