Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
The Block Crypto | Frank Chaparro | Mar 9, 2022
The constellation of crypto-focused venture capital funds grew this week with the launch of a dedicated team within Bain Capital Ventures.
Bain Capital Crypto, which counts the $155 billion Bain Capital as its largest limited partner, is in the process of deploying $560 million across the crypto ecosystem with an emphasis on early-stage companies, according to a conversation with the team conducted Tuesday evening.
According to partner Stefan Cohen, Bain Capital Crypto has been in the works for about a year. Bain Capital Ventures is no stranger to crypto; among the industry's firms in its portfolio are BlockFi, Zero Hash, Risk Harbor and CoinDCX.
But according to Cohen, who has been a partner at the firm since 2016, Bain Capital Ventures felt like it needed "a dedicated team" in order to compete in an increasingly active field.
In a sense, the firm is following in the footsteps of a16z, which spun out its own dedicated unit. Elsewhere, BCV has to compete for space on cap tables with large crypto-native venture firms like Paradigm and Multicoin as well as VCs like Sequoia and Tiger.
"A little more than a year ago we set out to design a founder-oriented fund to help them through inception to growth," Cohen added. "Advising on key economics, interacting with on-chain governance, providing liquidity and staking. Crypto VC is different than traditional software investing: founders and communities have a different set of needs [and] we intend to be involved with protocol communities, code level governance decisions and incubating projects on top of infrastructure we are excited about.”
"As the Web3 narrative grew, a lot more inclusive DAOs came up. DAOs with culture, DAOs where people can hang out and it feels intuitive," noted Darren Lau of the Daily Ape during a recent episode of The Scoop."People just want a place to hang out with their friends and having a DAO seems like the cool way to do it right now.”
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
Support NCFA by Following us on Twitter!Follow @NCFACanada |
January 25th, 2023
June 1st, 2021
September 9th, 2020
July 17th, 2020
August 22nd, 2019
September 26th, 2018
July 9th, 2018
March 19th, 2018
January 3rd, 2018
September 25th, 2017
July 31st, 2017
June 20th, 2017
May 10th, 2017
May 9th, 2017
December 14th, 2016
September 13th, 2016
NCFA Canada
Craig Asano
CEO and Executive Director
casano@ncfacanada.org
ncfacanada.org
Leave a Reply