Bain Capital Crypto Prepares To Launch Second Fund

According to CoinDesk, Bain Capital Crypto is gearing up to launch a second fund, as revealed in a recent U.S. Securities and Exchange Commission filing. The firm launched its inaugural crypto fund in March 2022, amassing $560 million just before the crypto market experienced a significant downturn due to the collapse of Do Kwon's Luna. Despite the challenging market conditions, Bain Capital remained an active investor throughout 2022 and 2023, contributing to funding rounds such as Sam Altman's $115 million Worldcoin fundraise, privacy protocol Nocturne Labs, and decentralized exchange aggregator Flood. The first fund, co-led by Stefan Cohen and Alex Evans, primarily targets early-stage investments and liquid tokens in the decentralized finance (DeFi) and Web3 sectors. It has already invested nearly $100 million in various projects and has been actively involved in protocol governance. However, Bain Capital Crypto has refrained from commenting on the new fund through its public relations agency, citing compliance concerns.