Crypto Venture Capital Maven 11 completes its third fund raising, with fundraising scale of US$107 million

PANews reported on March 28 that according to The Block, European crypto venture capital firm Maven 11 has completed the fundraising of its third fund, with a fundraising scale of US$107 million, slightly higher than the initial target of US$100 million. The financing ended about 9 months later than initial expectations. The fund has been supported by Theta Capital Management and supporters of new institutions in Europe and Asia, with Maven 11 not revealing all LPs, but it noted that London-based investment firm Karatage was one of the participants. The size of the third phase fund is still smaller than the second phase of Maven 11, which closed in May 2023 at USD 120 million.

Balder Bomans, chief information officer and managing partner of Maven 11, said the fund has supported several startups over the past year, including decentralized trading platform GTE, on-chain competition platform JokeRace, major on-chain brokerage August and Ethereum expansion startup Spire Labs, which has deployed about 15% of the funds, with the remaining funds planned to be deployed within the next 3-4 years. The third fund will support equity and token rounds, ranging in size from $500,000 to $5 million. Its investment focuses on emerging areas such as consumer applications, infrastructure and cross-artificial intelligence with cryptocurrency.