Maven 11 Capital closes $120m crypto venture fund

By Joy Dumasia

Maven 11 Capital, the crypto investment firm, closed its second fund, Venture Fund II, at $ 120 million on 30 November. 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. Maven 11 Capital’s closing at $120m demonstrates an increasing appetite to include crypto assets in their venture portfolio across the wider investor community.

Maven 11 Capital’s Venture Fund II investors come from diverse backers. Among them are high net worth individuals with a background in finance and technology, crypto entrepreneurs, family offices, and institutional backers. The investors are enthusiastic about the opportunities this industry offers and about becoming ecosystem participants and learning more about the shift currently taking place towards a decentralised, trusted and incredibly exciting future.

Maven 11 Capital was founded in 2015 and has run a venture investment approach since 2017. With the fresh funding, Maven 11 Capital is on a mission to partner and back phenomenal projects from inception to launch. Among previous venture investments from Venture Fund I are Celestia, Qredo, Nym Technologies and Spectral Finance. From Venture Fund II, investments have already been made into, amongst others, Merit Circle, Maple Finance, Anoma and Zapper.

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 offers founders more than just funding. The entire fund team actively supports portfolio companies 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.