September 26, 2022

Venture Capital Company Bain Capital Establishes a Fund to Support Cryptocurrency Developers for $560M

Boston-based venture capital firm Bain Capital launched a $560 million Bain Capital Crypto (BCC) fund to fund developers of blockchain, cryptocurrencies and Web3.

According to a statement from Bain Capital, managingwith more than $150 billion in assets, cryptocurrencies represent “a monumental technological shift towards open, community-driven and decentralized services.” The company said it will support blockchain developers in promising directions.

“We are pleased to announce our first fund of$560 million and the launch of a new platform to support pioneers building the next generation of Internet infrastructure. We created this dedicated investment firm to support crypto and Web3 creators from the ground up with a high-tech and collaborative approach,” the statement said.

According to Bain Capital, technical andeconomic research as the next wave of Internet financial infrastructure is built will require in-depth technical support in critical design decisions. The Fund will actively support cryptocurrency developers on topics related to contributing to the code, adjusting risk parameters, and establishing a DAO.

Bain Capital believes that, given the earlyliquidity dynamics of cryptocurrency protocols and limited capital intensity, developers require investors who can participate in any spectrum of liquidity, supporting teams in both private and public markets. The company stated that it is ready to support projects at all stages of development.

If earlier investment companies investedmoney in the development of cryptocurrencies, now they are increasingly interested in the Web3 market. Last week, Blockchain venture firm Electric Capital announced that it was going to invest in shares and tokens of startups engaged in promising areas of the cryptocurrency industry: NFT, DeFi and DAO.