Digital asset investment business firm Maven 11 Capital letter has announced a $120 meg funding round for its private investment establishment, Venture Fund 2, in a move that will further expand its financial footprint across emerging sectors of decentralized finance (DeFi) and Web 3.0. The funding circular builds off a successful inaugural raise of $40 million in June of this year.

Established in May 2022, Maven 11 Capital letter has invested in 27 companies exclusively inside the DeFi and Spider web 3.0 space. The business firm was the lead investor in private seed rounds for information oracle service RedStone and metaverse stack house Odyssey in July and November 2022, respectively.

Maven 11s investment strategy focuses primarily on identifying emerging technologies. Equally such, the business firm has amassed capital in a number of projects, including stalwart cryptocurrency avails Bitcoin (BTC) and Ether (ETH), in addition to Aave (AAVE), Uniswap (UNI) and Yearn Finance (YFI), as well as more than speculative positions in nascent projects OlympusDAO, Nym Tech, and Arweave, among others.

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Maven 11's venture fund highlights a growing investor appetite for identifying and investing in emerging blockchain and crypto plays. As Cointelegraph reported on Wednesday, former Wall Street veteran Matt Zhang launched a $1.5 billion crypto fund dedicated to investing in promising blockchain plays as well as trading in crypto assets. Zhang's Hivemind Capital Partners is 1 of at least three multi-billion-dollar crypto startup funds, the other two existence run past Andreessen Horowitz and Paradigm.