Crypto investment company Maven 11 Capital from the Netherlands has closed its second venture fund for $120 million. Venture Fund II aims on the areas of decentralized finance (DeFi) and Web 3.0.
Thus, in a press release, the firm noted that the closing amount “demonstrates the growing appetite of the expanding investor community to include crypto assets in its portfolio.”
“Investors clearly understand that, in addition to participating through financing; they also become active members of these communities and ecosystems. Obviously, this is a space that can no longer be ignored”. Said Joost van der Plas, partner at Maven 11 Capital.
The closing amount “demonstrates the growing appetite“
The company stressed that Venture Fund II attracted a variety of investor groups. Among them, there are wealthy people with experience in the financial sector, crypto entrepreneurs, family offices and institutions.
Maven 11 Capital has been engaged in venture capital investment since 2017. Among the firms, the Venture Fund I supported are; Celestia, Qredo, Nym Technologies and Spectral Finance. Venture Fund II has already made its first investments, in particular, in Merit Circle, Maple Finance, Anoma and Zapper.
“Maven 11 Capital offers founders more than just funding,” the statement reads. The entire fund team is actively supporting portfolio companies to accelerate their development.
Previously launched funds
Recall that earlier in November, Circle announced the launch of a fund for early-stage blockchain projects. “We will be investing in teams and projects that align with our core mission of increasing global economic prosperity; through the frictionless exchange of financial value”. Co-founder and chief executive officer of Circle, Jeremy Allaire posted on Twitter.
In addition to providing Internet payment services, the company is the main operator of the USDC stablecoin. With a capitalization of $34.6 billion, according to CoinGecko.
Previously in December, Borderless Capital launched a $500M fund to support Algorand projects. According to the press release, the fund will invest in “digital assets powering the next generation of decentralized applications on Algorand”.