Amsterdam-based crypto investment firm Maven 11 Capital closes its second fund at €106.35M

Amsterdam-based Maven 11 Capital, a venture capital fund in blockchain and Distributed Ledger Technology (DLT), announced that it has closed its second fund, Venture Fund II, at $120M (approx €106.35M).

The firm will continue to scale its backing of founders that are looking to build novel infrastructure protocols, Decentralised Finance (DeFi) primitives, and Web 3.0 applications in the crypto industry.

Who has invested in this round?

The investors in Maven 11 Capital’s Venture Fund II include high net worth individuals with a background in finance and technology, crypto entrepreneurs, family offices, and institutional backers. The fund’s closing of $120M demonstrates an increasing appetite across the wider investor community to include crypto assets in their venture portfolio.

Joost van der Plas, Partner at Maven 11 Capital says, “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.”

What does Maven 11 Capital offer?

Founded in 2015, Maven 11 Capital is an investment fund solely focused on investing in blockchain and distributed ledger technology (DLT). It invests in ventures, digital assets, and digital currencies that adopt this technology.

The firm supports the companies in which it invests by taking an active role in the sector and contributing to the development of its portfolio companies. “In addition to funding, we bring knowledge and experience,” says Maven 11 partner Balder Bomans. “We see the result of this integrated approach in the value growth of our participation.”

Bomans further adds, “The networks in which we invest offer products that are already widely used on a daily basis. The companies in these networks generate cash flows, which benefit our investors. This way, we generate value, not only in the long run through return on investment, but also via cash flow yield. This combination makes our proposition very attractive to investors.”

Capital utilisation

Maven 11 Capital has run a venture investment approach since 2017. With the fresh funding, the firm is on a mission to be a 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 Merit Circle, Maple Finance, Anoma, and Zapper, among others.

According to Bomans, “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.”

Maven 11 Capital’s newly joined partner Darius Rugys, adds, “The traditional venture structure of this new fund allows us to take a multi-year time horizon on our investments. This enables us to back protocols that need to grow from just a strong founder with an innovative idea towards a fully-fledged DAO or proven protocol with strong traction among developers and users.”