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Latest News  + Alternative Assets  + Blockchain  + Crypto  + VC  |  November 10, 2023
Lightspeed Debuts $285M Blockchain Fund
Joe Palmisano
By: Joe Palmisano

Lightspeed Debuts $285M Blockchain Fund

Lightspeed Faction, a blockchain-focused venture capital firm that was launched in 2022 in a joint venture with Lightspeed Venture Partners, launched its debut $285 million fund to primarily invest in early-stage (typically in Seed and Series A rounds) blockchain and crypto startups.

Faction added that the fund will provide support to crypto teams on a wide range of subjects from tokenomics to operational scaling.

The Menlo Park, CA-based team includes former alumni from Amber Group, Blockchain.com, and Coinbase.

Faction collaborates with Lightspeed Venture Partners on blockchain-related matters but operates the fund independently. The firm is a separate partnership, with its own dedicated LP base and has full investment discretion over the capital raised.

“The blockchain ecosystem is full of promising projects looking to disrupt everything from financial systems to telecommunication and we look forward to collaborating with them to nurture the next phase of blockchain innovation,” said Banafsheh Fathieh, co-founder and GP of Lightspeed Faction.

Despite the challenging environment surrounding the crypto market, Faction has made investments in Crossmint, Lens, Narya.ai, Skip.money, Matter Labs, among others.

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Lightspeed Faction

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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