Factor Capital Management, a Charlotttesville, VA-based investment firm, announced the launch and first close of its Factor Venture Capital Fund I with approximately $10M in commitments.
Venture Fund I is backed by a group of investors, including GSR Markets, Theta Capital Management, executives from Two Sigma Investments, and the founders of Multicoin Capital, Lattice Capital, and Cosmos Network, amongst others.
Founded in 2023 by former GSR Markets and Two Sigma Investments Executive Jake Dwyer, Factor Capital plans to invest up to $30m in seed-stage startups that leverage blockchain technology to solve real-world problems.
The vehicle makes investments ranging from $500k to $1m to entrepreneurs at the earliest stages of company development.
Existing portfolio companies include Koywe, Jasmine Energy, Neutral, and Parcl.
Dwyer is a startup and finance executive with over 20 years of operating experience leading early-stage businesses and driving innovation within world-class investment managers like Two Sigma Investments.
Commenting on the fund launch, he said: “We are excited to partner with founders and investors who align with our vision of investing in businesses that have a real-world impact,” said Factor’s founder, Jake Dwyer. “Our thesis is basic: blockchain is on the cusp of mainstream adoption, and we want to support the companies that will drive this adoption forward.“