Aptos cofounder Mo Shaikh has launched a new firm. He is joined by three former Aptos Labs colleagues. The new company is a crypto venture fund called Maximum Frequency Ventures.
The team raised $50 million. The fund will invest in crypto startups. The other cofounders are Neil Harounian, Alexandre Tang, and Jerome Ong. All four are veterans of the blockchain developer Aptos Labs.
The fund's limited partners were not disclosed. They include family offices in the U.S., East Asia, and Southeast Asia. The four cofounders also invested their own capital into the fund.
This launch occurs during a downturn in crypto venture capital. Yet, the founders believe their operational experience offers an advantage. They plan a hands-on approach. The firm will actively work with founders and incubate new companies.
Maximum Frequency Ventures has already deployed $5 million. The capital went to six startups. The firm is focused on finding founders globally, with a specific interest in Asia.
