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

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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