Bain Capital Crypto is planning to launch its second fund, according to CoinDesk, according to a filing with the U.S. Securities and Exchange Commission. Bain Capital launched its first cryptocurrency fund in March 2022. The $560 million fund was launched just before Do Kwon's Luna collapsed, triggering a massive sell-off in the crypto market. Despite the subsequent crypto winter, Bain Capital has been an active investor in 2022 and 2023, participating in rounds including Sam Altman's $115 million Worldcoin fund raising, privacy protocol Nocturne Labs, and decentralized exchange aggregator Flood. The first fund, co-led by Stefan Cohen and Alex Evans, focuses on early-stage investments and liquidity tokens in the decentralized finance (DeFi) and Web3 fields, and has invested nearly $100 million in projects while actively participating in protocol governance. Bain Capital Crypto declined to comment on the new fund through its public relations agency due to compliance issues.
