Bain Capital launches Bain Capital Crypto fund worth $560 million
Investment giant Bain Capital has launched Bain Capital Crypto (BCC), an investment fund targeting companies in cryptocurrency
Alex Evans, Managing Partner at BCC, explained that the fund takes a long-term view on crypto investing and that Bain is unfazed by “short-term market gyrations”
Stefan Cohen, Managing Partner at BCC, explained to Bloomberg that Bain may look at launching more crypto-centric funds in future, which will operate on the new Bain platform that was announced alongside the Bain Capital Crypto fund
The company’s investment into crypto is in line with a “monumental technology shift” towards cryptocurrency, Web 3.0 and other decentralised services, it explained in a media release.
“Touching how we play, work, and transact, this seismic shift may prove the most important technological development of our lifetimes,” according to Bain.
The crypto investment firm will support cryptocurrency and Web 3.0 builders “from seed through growth”. “The teams building these new pillars of the internet require a new type of investment firm that can support them from ideation through scale,” the company said.
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