# Lightspeed Faction Launches $285 Million Fund to Support Crypto Startups
**Lightspeed Faction**, a venture capital firm, has announced the launch of a $285 million fund dedicated to early-stage blockchain projects in the crypto space. The fund aims to provide capital and support to promising projects as they scale.
The new fund will focus on backing innovative and disruptive blockchain startups, as well as provide access to a team of experienced blockchain investors and operators, including members from the Amber Group, Blockchain.com, and Coinbase teams.
Co-founder Banafsheh Fathieh emphasized the importance of the fund, stating, “[C]rypto is a generation-defining technology, and we are fully committed to investing behind the best entrepreneurs looking to propel blockchain technology forward.”
The Lightspeed Faction fund, well aware of the challenges the crypto market has faced, highlighted its early successes with blockchain startups during the bear market, such as Crossmint, Lens, Narya.ai, Skip.money, and Matter Labs.
Despite the recent decline, the fund remains optimistic about the potential of blockchain projects. The initiative comes at a time when the crypto venture capital funding experienced a slowdown.
This move is a positive development for the crypto industry and underlines the continued interest and support for innovative blockchain technologies.
**What is Lightspeed Faction?**
Lightspeed Faction is a venture capital firm that focuses on early-stage blockchain projects in the crypto space. It is a joint venture between Lightspeed Venture Partners and the crypto-only fund, Faction.
**What does the $285 million fund aim to achieve?**
The fund aims to back promising blockchain startups and provide support and capital as these projects scale.
**Why is the fund important for the blockchain ecosystem?**
The fund recognizes the potential of blockchain technology and aims to invest in the best entrepreneurs to drive the industry forward.
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