Blockchain and digital asset investment firm Maven 11 Capital has closed a $120 million fund, its second crypto-focused fund. The fund will back infrastructure protocols, decentralized finance (DeFi) open-source protocols and Web 3 applications.
Venture Fund II differs from Maven 11′s first fund in being closed-ended, or issuing a fixed number of shares, and having a wider group of backers including wealthy individuals, crypto entrepreneurs, family offices and institutions. The new fund has already deployed investments into gaming-focused DAO Merit Circle, lending platform Maple Finance, layer 1 blockchain Anoma and DeFi dashboard Zapper, among others.