Carey Olsen’s investment funds team in Hong Kong SAR has advised Lightspeed Faction Ventures, LLC (Lightspeed Faction) on the launch of Lightspeed Faction Fund I, LP, a US$285 million closed-ended venture capital fund focused on early-stage blockchain opportunities.
The fund is a collaboration between Lightspeed Venture Partners (Lightspeed) and the Faction partnership through the newly formed cryptocurrency firm, Lightspeed Faction. Lightspeed Faction will execute its blockchain investment strategy with an institutional approach that leverages Lightspeed’s global investment platform and Lightspeed Faction’s crypto-native VC investing expertise and key ecosystem relationships.
The fund will seek to generate long-term capital appreciation through equity and token investments in early-stage projects that are active in blockchain and may also engage in other token-generative activities such as staking of digital assets.
Working alongside lead counsel Wilson Sonsini Goodrich & Rosati, the Carey Olsen team advising Lightspeed Faction on all Cayman Islands legal and regulatory aspects of the launch was led by partner Michael Padarin.
Michael said: “Carey Olsen was delighted to work with the Lightspeed Faction team on this innovative and exciting launch within the crypto space. The collaboration with Lightspeed Venture Partners is one that showcases an exciting strategy around investment in early-stage blockchain projects and opportunities.”