Lightspeed Faction, a blockchain-focused venture capital firm, has launched its inaugural venture with $285m in capital commitments, to invest in early stage blockchain projects and serve as a long-term capital partner as projects scale.
In addition to providing capital, the fund will serve as a resource to blockchain entrepreneurs on a range of topics from tokenomics to business scaling.
Faction says it offers founders access to a team of experienced blockchain investors and operators, servicing the industry at a time when many have fled. The team is primed to provide crypto-native advice, with team members hailing from Amber Group, Blockchain.com, and Coinbase, amongst others.
Lightspeed Faction is a joint venture with Lightspeed Venture Partners, and as a result, combines Faction’s crypto-only approach with Lightspeed’s Silicon Valley roots and platform business scaling resources. Faction collaborates with Lightspeed on blockchain-related matters, but operates the fund independently. Faction, a separate partnership, with its own dedicated LP base, has full investment discretion over the $285m of capital raised.
Faction’s founding partners, Samuel Harrison and Banafsheh Fathieh, have deployed over $500m of capital across early-stage and blockchain venture capital throughout their careers
