Blockchain and digital asset firm Maven 11 Capital, which plans to invest in DeFi projects with Web3, the much talked about technology of recent times, announced that it has raised $120 million in its second crypto-focused fund. For details of the news cryptocoin.com keep reading.
Maven 11 invests heavily in DeFi projects
Venture Fund-2 differs from Maven 11’s initial fund in that it is closed-ended or issues a fixed number of shares and has a wider support group including wealthy individuals, crypto entrepreneurs, family offices and institutions. The new fund has invested in games-focused DAO Merit Circle, lending platform Maple Finance, layer-1 Blockchain Anoma, and DeFi board Zapper, among others. On the matter, Maven 11 partner Darius Rugys made the following statement:
The traditional venture nature of this new fund allows us to take a multi-year time horizon on our investments. This enables us to support protocols that need to grow from a strong founder with an innovative idea to a full-fledged DAO or proven protocol with strong traction among developers and users.
In an interview, Darius Rugys used Maple Finance as an example of how the firm works with the companies it invests in. Maple Finance is a lending platform specializing in liquidity pools made up of institutions. Maven 11 essentially served as a pool manager for a group of borrowers and lenders. Darius Rugys says his firm has raised $150 million to $160 million for Maple Finance and has a small team of employees working full time on this project.
“We invest in them, work closely with the founders, and do extensive work on the protocol,” says Darius Rugys. Darius Rugys states that the Amsterdam-based investment firm also focuses on internal recruiting, including research and portfolio development teams.
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