Maven 11, a European crypto venture capital firm, has closed its third fund at $107 million — slightly exceeding its original $100 million target — the firm's chief investment officer and managing partner Balder Bomans told The Block.
The fundraise closed about nine months later than initially expected, with capital providers or limited partners (LPs) showing increased caution amid challenging crypto market conditions. "We've seen and experienced that capital providers have been more sensitive towards VC funding due to the general market conditions, part of which can be ascribed to the large and wide losses after the many 2022 fallouts," Bomans said.
Maven 11 first announced Fund III in November 2023, aiming for a close in the first half of 2024. Although delayed, the fund secured support from anchor investor Theta Capital Management, as well as new institutional backers across Europe and Asia. While Bomans declined to name all LPs, he noted London-based investment firm Karatage as one participant.
Despite surpassing its target, Fund III is smaller than Maven 11's second fund, which closed at $120 million in May 2023. Bomans declined to disclose the size of the first fund or the firm's current assets under management.
Maven 11 began deploying capital from Fund III nearly a year ago and has already backed several startups, including decentralized trading platform GTE, onchain contest platform JokeRace, onchain prime brokerage August and Ethereum scaling startup Spire Labs, Bomans said.
"In total, we probably have deployed around 15% of the fund," he said. "We will deploy in the next 3-4 years from this fund, with a combination of new deals, (pre) seed and Series As, and follow on funding."
Fund III will back both equity and token rounds, with check sizes ranging from $500,000 to $5 million. Its investment focus spans consumer applications, infrastructure and emerging areas like the AI-crypto intersection. Bomans also said the firm is supportive of founders pursuing community sales alongside VC-led funding rounds.
Alongside the close, Maven 11 has also launched its Founder Residency Program to support startups at the earliest stages. Unlike traditional web3 accelerators, Bomans said the program is designed to be more flexible and personalized.
"Accelerators have to operate at a large scale with often 10s of companies per cohort, we want to take a more personalized approach and really offer a tailored program to support these founders optimally," he said. "This approach allows us to optimally prepare them to raise a round in the future and set them up for long-term success."
The Funding newsletter: Stay updated on the latest crypto funding news and trends with my free bimonthly newsletter, The Funding. Sign up here!
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
