The startup-focused arm of major private equity investor Bain Capital launched a $560 million fund to invest exclusively in crypto companies.
The fund closed in November, and has already invested $100m in the crypto space, Bloomberg reports. Bain is no stranger to cryptocurrencies, with holdings in crypto lenders BlockFi and Compound Finance, as well as Digital Currency Group, which runs a host of different crypto companies.
Bain’s latest foray into crypto comes at a volatile time for the space, with rising inflation, Russia-Ukraine tensions and concerns over an upcoming Federal Reserve rate hike causing wild swings in the market. Total crypto market capitalization has fluctuated by about $400 billion since mid-February, according to data from coinmarketcap, while Bitcoin had until recently halved from a record high struck in November.
Read more: Coin Gape
