Amsterdam-based crypto venture capital firm Maven 11 has introduced its third fund, aiming to secure $100 million. This research-driven fund is focused on early-stage crypto projects aligning with Maven 11’s mission to “redefine ownership,” as per the firm’s press release.
A third of the fund has already been committed by limited partners (LPs), and Maven 11 expects to complete fundraising by the first half of 2024.
Balder Bomans, Managing Partner and Chief Investment Officer at Maven 11, expressed strong confidence in the crypto sector, stating that it is “on a path to radically change how we transact and trade in an ever more digitalizing world, unlocking value for the everyday user.”
This announcement comes after the successful launch of Celestia, Maven 11’s initial venture investment, which the firm claims has introduced the world’s first modular blockchain network.
Maven 11’s thesis and research-driven approach
Mathijs van Esch, who has been with Maven 11 since 2017, is joining the third venture fund as a new General Partner.
Van Esch underscored the fund’s commitment to a heavily thesis and research-driven approach, emphasizing a desire to partner with founders who challenge the status quo.
Maven 11 has been actively investing in the blockchain industry since 2017, backing notable projects such as Celestia, Risc Zero, Lagrange, Gensyn, and Merit Circle. The firm is recognized for its dedication to building early-stage ecosystems.
‘Unique ability to identify important innovation’
Ruud Smets from Theta Capital Management, one of the leading institutional allocators in the blockchain industry, expressed enthusiasm about being an anchor investor in Maven 11’s third fund.
“Maven 11 has demonstrated its unique ability to identify important innovation early on, to deeply understand and contribute to the industry research and to work in a highly constructive manner with founders,” said Smets.
Theta Capital Management has invested over $600 million in crypto-native venture capital funds since 2017.
A portion of the new fund will be dedicated to supporting builders in Maven 11’s Modular Program, aiming to recruit founders developing applications in the emerging modular blockchain ecosystem. The program seeks to provide support to individuals with innovative ideas for applications and protocols, building on so-called rollup technologies.
