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.
