© Reuters. Lightspeed Faction sparks blockchain revolution with $285 million venture fund
Benzinga – Blockchain-Focused Venture Capital Firm Light Speed Faction announced Thursday the launch of its first $285 million venture capital fund called Faction, which will primarily invest in early-stage blockchain projects and serve as a long-term financial partner as those projects develop.
This development comes just ahead of Benzinga’s Future of Digital Assets conference on November 14, where the future of cryptocurrencies and their role in the financial market will be a key topic of discussion.
In addition to providing capital, the fund will offer blockchain entrepreneurs a wealth of resources on various topics, from tokenomics to scaling businesses.
The Faction team, which includes members of Amber Group, Blockchain.com And Coinbase Global, Inc. (NASDAQ: COIN), is well positioned to provide crypto-native advice.
Lightspeed Faction is a joint venture with Lightspeed Venture Partners and, therefore, combines Faction’s crypto approach with Lightspeed’s deep Silicon Valley roots and the platform’s commercial scaling resources, the release said Press.
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Although Faction collaborates with Lightspeed on blockchain-related matters, it manages the fund independently.
“We firmly believe that crypto is a generation-defining technology,” said Banafsheh Fathieh, co-founder and general partner of Lightspeed Faction. “We look forward to collaborating with promising projects aimed at advancing blockchain technology.”
Faction will engage in projects from their early stages, investing in companies that seek to make a positive societal impact using blockchain technology.
The company has already made several investments in the blockchain ecosystem, including Crossmint, Lens, Narya.ai, Skip.money, Matter Labs, among others.
The founding partners of Faction Samuel Harrison and Fathieh have deployed over $500 million in early-stage venture capital and blockchain capital throughout their careers.
“Our goal is to be a collaborative partner from the beginning of the founder’s journey through exit,” Harrison said.
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