Amsterdam-based Maven 11 Capital closes $ 120 million for its crypto venture fund
Maven 11 Capital, a global blockchain and digital asset investment firm., has closed $120 million for its second fund, Venture Fund II as the booming cryptocurrency market heats up and investors’ appetite to include crypto assets in their venture portfolio.
Maven 11 Capital’s Venture Fund II is backed by a diverse group of investors including high net worth individuals with a background in finance and technology, crypto entrepreneurs, family offices, and institutional backers. Building on the success of their first fund, the Maven 11 Capital team will continue to scale their backing of incredible founders looking to build novel infrastructure protocols, DeFi primitives, and Web 3.0 applications in the crypto industry.
The Amsterdam, Netherlands-based Maven 11 Capital said it plans to use the fresh funding to partner and back crypto-related projects from inception to launch. Among previous venture investments from Venture Fund I are Celestia, Qredo, Nym Technologies, and Spectral Finance. The firm currently invests in ventures, digital assets, and digital currencies that adopt this technology.
Commenting on the funding, Joost van der Plas, Partner at Maven 11 Capital, said: “Investors clearly appreciate that besides participating through their investments, they also become active members of these communities and their ecosystems. Clearly this is a space that can no longer be ignored.”
Maven 11 Capital was founded in 2015 and has run a venture investment approach since 2017. The firm is solely focused on investing in blockchain and distributed ledger technology (DLT). The firm offers founders more than just funding. Portfolio companies are actively supported by the entire fund team to accelerate their development.
An example of this is Maven 11 Capital assuming the role of Pool Delegate in supporting its venture investment in Maple Finance. “The abundance of capital in the industry right now means you have to bring far more to the table. The example of our involvement in Maple Finance in bootstrapping the liquidity on their protocol shows how we can do this. We always take a fit-for-purpose approach, as every founder and project has different needs.” says Balder Bomans, Partner at Maven 11 Capital.
Meanwhile, Maven 11 Capital’s Venture Fund II investments have already been made into, amongst others, Merit Circle, Maple Finance, Anoma, and Zapper.
In a statement, Darius Rugys, newly joined Partner at Maven 11 Capital, said: “The traditional venture structure of this new fund allows us to take a multi-year time horizon on our investments. This enables us to back protocols that need to grow from just a strong founder with an innovative idea towards a fully-fledged DAO or proven protocol with strong traction among developers and users.”