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

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