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 originally expected. The fund has received support from Theta Capital Management and new institutional backers in Europe and Asia. Maven 11 did not disclose the names of all LPs, but it pointed out that London-based investment company Karatage is one of the participants. The size of the third fund is still smaller than Maven 11's second fund, which closed at US$120 million in May 2023.
Balder Bomans, CIO and managing partner of Maven 11, said that the fund has supported several startups in the past year, including decentralized trading platform GTE, on-chain competition platform JokeRace, on-chain major brokerage August and Ethereum expansion startup Spire Labs, and has deployed about 15% of the funds, with the remaining funds planned to be deployed in the next 3-4 years. The third fund will support equity and token rounds ranging from $500,000 to $5 million. Its investment focus covers emerging areas such as consumer applications, infrastructure, and the intersection of artificial intelligence and cryptocurrency.
