Lightspeed Faction, a Menlo Park, CA-based blockchain-focused venture capital firm, launched its inaugural $285m fund.
Led by founding partners Samuel Harrison and Banafsheh Fathieh, Faction engages with projects during their earliest stages, typically in Seed and Series A rounds, and invests in businesses that seek to provide positive societal impact using blockchain technology.
The firm invests in the top teams and projects across all sectors of the blockchain industry, with a focus on using the technology to provide real utility to users and businesses. Faction already made investments in Crossmint, Lens, Narya.ai, Skip.money, Matter Labs, and more.
The firm offers founders access to a team of blockchain investors and operators providing crypto-native advice, with team members coming 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 deep Silicon Valley roots and platform business scaling resources. The firm collaborates with Lightspeed on blockchain-related matters, but operates the fund independently. Faction is a separate partnership, with its own dedicated LP base and has full investment discretion over the $285M of capital raised.
Harrison and Fathieh have deployed over $500M of capital across early-stage and blockchain venture capital throughout their careers, generating a long track record of backing the leading players in the space, including Aave, Arbitrum, Blockdaemon, Figure, Immutable, NEAR, Republic, Wintermute, and Matter Labs, amongst others.