Factor Capital Management, a Charlottesville, VA-based investment firm, announced the launch and first close of its Factor Venture Capital Fund I with approximately $10M in commitments.
The fund aims to invest up to $30M in seed-stage startups that leverage blockchain technology to solve real-world problems writing checks ranging from $500k to $1m.
Venture Fund I is backed by a group of investors, including GSR Markets, Theta Capital Management, executives from Two Sigma Investments, and the founders of Multicoin Capital, Lattice Capital, and Cosmos Network, amongst others.
Founded in 2023 by Jake Dwyer, Factor Capital believes in leveraging technologies, native digital assets, and full-stack problem-solving methodology to accelerate innovation. Existing portfolio companies include Koywe, Jasmine Energy, Neutral, and Parcl.