Bain Capital Ventures, one of the world's leading multi-asset investment firms, has launched Bain Capital Crypto, a $560 million fund that will focus on crypto-related investments.

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According to a Bloomberg report, the fund closed in November and has already invested $100m into crypto projects. Bain is no stranger to the crypto and blockchain sector, as it previously backed companies such as BlockFi, Compound, and Digital Currency Group.

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“We’ve become quite high conviction we are at the beginning of a multi-decade technology shift,” Stefan Cohen, a managing partner at Bain Capital Crypto, told Bloomberg. “We really needed a dedicated team and a dedicated fund structure. That’s really what lead to the addition of Bain Capital Crypto.”

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Bain Capital Crypto will help build the next generation of internet infrastructure (Web3) by providing services to the protocols and companies it is involved in, including technical support, code contribution, DAO organization, and much more.

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