Bain Capital Crypto, a subsidiary of Bain Capital is reportedly planning to launch a second fund, to expand its support for crypto-related projects. This was revealed in a new filing by the United States Securities and Exchange Commission in a new filing dated June 5.

Recall that in March 2022, Bain Capital launched its first crypto fund just before the crash of Luna Crypto Network, the parent company of the defunct stablecoin TerraUSD founded by Do Kwon. At the time about $560 million was raised by the fund.

Following this, Bain Capital participated in rounds like Sam Altman’s $115 million Worldcoin financing, privacy protocol Nocturne Labs, and decentralized exchange aggregator Flood between 2022 and 2023, even though there was a subsequent crypto winter triggered by the collapse of the Luna Network.

The first fund, co-led by Stefan Cohen and Alex Evans, was dedicated to early-stage investments and liquid tokens in the Web3 and decentralized finance (DeFi) sectors. At the time of writing, it has invested close to $100 million in projects thus far and is actively involved in protocol governance.

Highlighting compliance concerns, the Boston-based company’s public relations agency has refused to give any comments regarding the latest fund, adding another layer of uncertainty and speculations. This story is still unfolding, we will update you with more as we receive it.

Victor Swaezy

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 blogging experience. He is an easy person and when not working, loves to have a good time.

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