Lightspeed Faction launches $285M early-stage crypto fund

On November 9th, blockchain-focused venture capital firm Lightspeed Faction announced the launch of a $285 million early-stage crypto fund, which will focus on raising seed or Series A funding for early-stage blockchain projects. The fund was initially planned to raise $250 million, but ultimately exceeded the target by 14%. The average investment size is between approximately $5 to $10 million. Prior to going public, the fund has already invested about 20% of its capital in a few projects, with a deployment period of approximately three years.