The third fund under the encrypted venture capital Maven 11 has completed a fundraising of 107 million US dollars

According to The Block, the crypto venture capital firm Maven 11 has raised $107 million for its third fund, slightly exceeding the initial target of $100 million.

The financing was completed about nine months later than originally planned, mainly due to the severe environment in the crypto market and more cautious attitudes from capital providers or limited partners (LPs). Balder Bomans, Chief Investment Officer and Managing Partner at Maven 11 stated that we have observed and experienced an increase in sensitivity from capital providers towards venture capital funds. This is partly due to widespread losses caused by a series of market crashes in 2022.