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Venture Capital Lightspeed Faction Starts $285M Fund for Blockchain Startups

Lightspeed Faction, a blockchain-focused venture capital (VC) firm, is starting a new $285 million fund that will primarily invest in early-stage projects. The VC, whose team members previously worked at Amber Group, and Coinbase, will also provide "crypto-native" advice to the projects it will invest in. "Faction offers founders access to a team of experienced blockchain investors and operators, servicing the industry at a time when many have fled," the firm said in a statement Thursday. The new fund comes as optimism is trickling into the crypto sector after a prolonged bear market. Faction typically invests in seed-stage and Series A funding rounds.

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