Bain Capital Crypto is raising a second crypto fund

Bain Capital Crypto is raising its second cryptocurrency fund, with documents filed with the U.S. Securities and Exchange Commission. Bain Capital launched its first $560 million crypto fund in March 2022, and despite the subsequent market downturn, the fund has continued to invest actively in 2022 and 2023, including participating in Sam Altman's Worldcoin's $115 million financing. The first fund, co-led by Stefan Cohen and Alex Evans, focuses on early investments and liquid tokens in the decentralized finance (DeFi) and Web3 sectors. Currently, the fund has invested nearly $100 million in multiple projects. Bain Capital Crypto has not yet commented on the new fund, citing compliance issues.