Author: Fairy, ChainCatcher

Editor: TB, ChainCatcher

On March 28, crypto venture capital firm Maven 11 announced that its third fund has completed fundraising of $107 million, exceeding its original target.

Looking back over the past decade, this institution has not only accurately bet on star projects like Celestia and Fuel but has also completed a remarkable transformation from a single VC to the crypto financial group M11 Group.

Maven 11's growth is unique, and this article will delve into its distinctive investment style, team composition, and investment landscape, revealing the legendary journey of Maven 11.

Institution Overview: From Pioneer VC to Crypto Financial Group

In 2015, "blockchain" was still a cutting-edge concept within geek circles, and the crypto industry had not yet entered the mainstream. It was in this year that Maven 11 was quietly established in Amsterdam, becoming one of the earliest venture capital firms in Europe focused on crypto investment, thus beginning a deep exploration journey.

Over the past nearly ten years, Maven 11 has witnessed industry changes and has launched three funds:

• First Fund (2017): Marked its starting point as a crypto venture capital firm.
• Second Fund (2021): Raised $120 million, focusing on DeFi and Web 3 applications.
• Third Fund (March 2025): Raised $107 million, exceeding the $100 million target, planning to support early blockchain projects, with approximately 15% of funds already deployed.

As the crypto market matures and the trend of institutionalization accelerates, Maven 11's business layout continues to expand. From an initial venture capital company, it has gradually ventured into multiple fields such as credit, asset management, and market making, evolving into M11 Group, a crypto financial group spanning diverse businesses.

Currently, the group mainly includes:

• Maven 11: A venture capital firm focused on blockchain and Web3, with investments covering infrastructure, DeFi, NFTs, and other crypto sectors.
• M11 Credit: A crypto credit underwriter providing credit solutions for crypto companies and DeFi protocols.
• M11 Funds: Focused on digital asset management, offering structured investment products for institutional investors.
• C11 Labs: A market maker and liquidity provider, helping optimize market efficiency in the DeFi ecosystem.

Through the four-wheel drive of "Venture Capital + Credit + Asset Management + Market Making," M11 Group has created a complete crypto financial industry chain.

Diverse Team and Leadership

According to LinkedIn data, Maven 11's total number of employees has grown by 16% in the past six months, with the current company size between 11-50 people and an average employee tenure of 2.5 years. (Note: Data is based on self-reported career dynamics of the company's employees on LinkedIn.)

Maven 11's core team brings together seasoned professionals from investment banking, capital markets, and corporate finance, with team members' academic backgrounds spanning economics, finance, business management, chemical engineering, information science, and other disciplines. This interdisciplinary combination helps the team conduct comprehensive analysis and risk management in the complex crypto financial market.

Here is an overview of the core team at Maven 11:

Maven 11 Leader Joost van der Plas

As the CEO of Maven 11, Joost van der Plas is both an elite in traditional business management and a pioneering explorer in the crypto industry.

Joost graduated from Erasmus University Rotterdam with a Master's degree in Business Administration and then spent 11 years in the telecommunications industry, accumulating rich executive experience. In 2011, he founded the virtual mobile service provider *bliep, gaining recognition with an innovative business model. In July 2015, *bliep was sold to Artilium NV, successfully concluding his first entrepreneurial venture.

His crypto journey began in 2011 when he first encountered blockchain technology and purchased his first Bitcoin in early 2012, officially stepping into the field. Since then, he has continuously invested in blockchain companies, projects, and tokens, maintaining a keen insight into industry developments.

In 2015, he founded the crypto venture capital firm Maven 11 and further upgraded it in 2022, creating the crypto financial group M11 Group.

Investment Landscape: How Does Maven 11 Bet on the Crypto Market?

Style:Support“Brave Outliers,”Preference forTechnical Founders

Maven 11's investment philosophy revolves around "supporting brave outliers," focusing on supporting innovators who bravely challenge the status quo and redefine ownership. Unlike traditional venture capital, Maven 11 does not just "write checks" but also participates in the growth of project teams, providing support in product refinement, market strategy, and resource integration.

Maven 11 believes that technical details determine success or failure. They particularly favor technical founders, not only focusing on the project's business model but also deeply researching its underlying architecture, scalability, and innovation.

Layout:Betting on Infrastructure and DeFi

According to RootData, Maven 11 has made a total of 20 investments in the past year, ranking 25th among crypto-native funds, with its current investment portfolio expanded to 97 projects and leading 13 rounds. Its investment scale is mostly concentrated between $1 million and $10 million, with a focus on blockchain infrastructure and DeFi sectors.

Maven 11's representative investment projects include star projects like Celestia, Fuel, and Saga. Additionally, as of now, three investment projects have been acquired, and six projects have ceased operations.

Here are the projects that Maven 11 has invested in:

Future: Increasing Investment and Exploring New Growth Points

According to The Block, in the next 3 to 4 years, Maven 11 plans to continue increasing investments, focusing on seed rounds, Series A financing, and follow-up investments in emerging projects. Its newly established third fund is expected to have individual investments ranging from $500,000 to $5 million, with a focus on consumer applications, blockchain infrastructure, and the intersection of AI and crypto, betting on future core growth sectors.

Maven 11's journey is still accelerating. With the full deployment of its third fund, a new round of layout is beginning.

Standing at the juncture of a ten-year journey, Maven 11 has grown from a VC to an important force in the crypto financial landscape. How will it continue to write its legend in the next decade? Perhaps, a more magnificent chapter is slowly unfolding.

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