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Bain Capital Ventures releases huge fund for cryptocurrency projects

Bain Capital Ventures, one of the world’s largest startup investment companies with $5.1 billion in assets under management, has announced the launch of a new $560 million crypto-related fund. The fund closed in November, according to a March 8 Bloomberg report, and it has already invested $100 million in 12 undisclosed projects.

Bain Capital Ventures has a track record of investing in the crypto and blockchain sectors, having previously funded businesses including BlockFi, Compound, and Digital Currency Group. Bain Capital Ventures’ most recent fund, BCV Fund I, is the first of its type, focusing only on the crypto market.

The latest development follows a surge in venture capital interest in cryptocurrency throughout 2021. According to data from Pitchbook, venture capital investment in cryptocurrency businesses hit $25 billion last year, the highest amount ever recorded in the history of the business.

Despite the fact that crypto asset values are very volatile in 2022, venture firms have continued to make significant investments in the industry. Sequoia Capital, an American venture capital company, announced the formation of a $600 million cryptocurrency fund in February. Polygon secured $450 million in an investment round led by some of the best venture companies in blockchain.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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