An American investment startup, Bain Capital Ventures has announced the launch of a $ 560 million fund that will be channeled to crypto -linked ‘startup’ companies. Bain Capital Ventures which has $ 5.1 billion in assets under management (AUM) is a subsidiary of leading investment firm, Bain Capital.
According to reports, Bain Capital Ventures is looking for 30 companies to invest in. The companies that were the criteria were companies that were actively involved in blockchain-based applications.
The company is “looking for firms that can actively participate in governance, firms that can provide liquidity into protocols,” said Stefan Cohen, managing partner at Bain Capital Crypto.
Based on the report, Cohen also added that the funds will be used within two to three years and can also be invested in company equities as well as cryptocurrencies.
The latest announcement by Bain Capital Ventures may be the start of a similar move by the startup company. According to Cohen, the company may consider launching more crypto -focused funds once the current fund capital is used up.
Finally, Bain Capital is not the only one looking for opportunities in the crypto market. Last year, well -known firm Andreessen Horowitz launched a $ 2.2 billion cryptocurrency fund aimed at investing in several blockchain and crypto companies.
