The encryption venture capital Maven 11 has completed the fundraising for its third fund, raising a total of $107 million.

PANews March 28 news, according to The Block, European encryption venture capital firm Maven 11 has completed the fundraising for its third fund, raising a total of $107 million, slightly above the initial target of $100 million. This financing took about 9 months longer than initially expected to close. The fund received support from Theta Capital Management as well as new institutional supporters from Europe and Asia. Maven 11 did not disclose the names of all LPs, but noted that the London-based investment firm Karatage is one of the participants. The size of the third fund is still smaller than that of Maven 11’s second fund, which closed at $120 million in May 2023. Maven 11 Chief Information Officer and Managing Partner Balder Bomans stated that the fund has supported several startups over the past year, including the decentralized trading platform GTE, the on-chain racing platform JokeRace, the on-chain major brokerage firm August, and the Ethereum scaling startup Spire Labs, having deployed about 15% of its funds, with the remaining funds planned to be deployed over the next 3-4 years. The third fund will support equity and token rounds, with sizes ranging from $500,000 to $5 million. Its investment focus covers emerging areas such as consumer applications, infrastructure, and the intersection of artificial intelligence and encryption.