Lightspeed Faction, a joint venture with Lightspeed Venture Partners, launched its first fund on Nov. 9 after raising $285M to invest in early-stage web3 startups.
Faction announced the news on Nov. 9, noting it hopes to act as a long-term capital partner for emerging blockchain projects. Faction added that the fund will provide support to crypto teams on a wide range of subjects from tokenomics to operational scaling.
Faction spans former alumni of Coinbase, Amber Group, and Blockchain.com. Faction will collaborate with Lightspeed on “blockchain-related matters” but operate the fund independently with “full discretion over the $285M of capital raised.”
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
#undefined [Source: TheDefiant]