# Faction: portfolio, investments and team > Faction is a vc firm based in United States. 7 investments on record, 2 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/lightspeed-faction (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Faction Last cheque observed Oct 2026; 7 cheques on record. Email Deploying now New fund, Mar 2026 VC firm Seed Series A Non-fungible Decentralized Cryptocurrency Follow Faction and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Flightspeed-faction) Deploying now **40%** of best year **2** **cheques in 12 months**, 7 on record Since the last cheque **2** days **00** hrs **00** min **00** sec Median round **$30M** Rounds led **3 of 7** Pitch Faction ## Faction highlights - 01 2 cheques in the last 12 months - 02 Mostly Seed and Series A: 67% of its rounds - 03 Led 3 rounds ## What they do > Faction is an early-stage Blockchain Venture Fund From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A - **Sectors:** Non-fungible Decentralized Cryptocurrency - **Based in:** Menlo Park, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **7 appearances** - **2026** 2 rounds - **Oct** **[PhotonPay](https://millionrounds.com/company/photonpay)** Series C · HK · Google News search **$40M** With 4 others - **Mar** **[OpenFX](https://millionrounds.com/company/openfx)** Series A · Ventureburn **$94M** *Led* - **2025** 4 rounds - **Oct** **[TransCrypts](https://millionrounds.com/company/transcrypts)** Seed · US · Ventureburn **$15M** With 8 others - **Sept** **[Raiku](https://millionrounds.com/company/raiku)** Seed · Ventureburn **$11M** With 5 others - **Sept** **[Credit Coop](https://millionrounds.com/company/credit-coop)** Seed · Ventureburn **$4.5M** *Led* - **Jun** **[Turnkey](https://millionrounds.com/company/turnkey)** Series B · US · AlleyWatch **$30M** With 8 others - **2024** 1 round - **Dec** **[Avara](https://millionrounds.com/company/avara)** TechCrunch **$31M** *Led* An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **2 named** BF **Banafsheh Fathieh** General Partner i Form ADV SH **Samuel Harrison** Managing Partner and CCO i Form ADV We also hold **2** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$433M** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** Faction Ventures, LLC - **SEC number:** CRD 318821 Funds on its Form ADV **1** private fund, **$82M** in gross assets · filed Mar 2024 - Lightspeed Faction Fund I, L.P. *Venture* 100 investors $82M ## What they claim to have backed From their own portfolio page (on their website) **26** of 58 we have independently watched raise [Ammalgam](https://millionrounds.com/company/ammalgam)[Blockskye](https://millionrounds.com/company/blockskye)[Coinflow](https://millionrounds.com/company/coinflow)[Credit Coop](https://millionrounds.com/company/credit-coop)[Figure](https://millionrounds.com/company/figure)[Flashbots](https://millionrounds.com/company/flashbots)[Gaib](https://millionrounds.com/company/gaib)[Init](https://millionrounds.com/company/init)[Inversion](https://millionrounds.com/company/inversion)[MagicBlock](https://millionrounds.com/company/magicblock)[Meld](https://millionrounds.com/company/meld)[Monad](https://millionrounds.com/company/monad)[Nous](https://millionrounds.com/company/nous-research)[OpenMind](https://millionrounds.com/company/openmind)[PhotonPay](https://millionrounds.com/company/photonpay)[Puffer](https://millionrounds.com/company/puffer)[TransCrypts](https://millionrounds.com/company/transcrypts)[Turnkey](https://millionrounds.com/company/turnkey)[WeatherXM](https://millionrounds.com/company/weatherxm)[Wintermute](https://millionrounds.com/company/wintermute)[XMTP](https://millionrounds.com/company/xmtp)[crossmint](https://millionrounds.com/company/crossmint)[hyperbolic](https://millionrounds.com/company/hyperbolic)[medallion](https://millionrounds.com/company/medallion)[zerobase](https://millionrounds.com/company/zerobase)[zkSync](https://millionrounds.com/company/zksync) 1Money Bloom Diameter Ethena Flock Glacis Helio Kamino LO Tech Latitude Lightspeed_wordmark_bright (1) Mrosocdgzmijtnawk7dg4wqlubpxbprmw77pdc7lhtdxoroh6tta Narya Navra Nexus Omega Rena Schuman Skip Strata SxT TK Faction pfp Taiko fiamma img02 img03 img04 img05 pharos profile pic stork tres Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. New fund on file **Raised** a new fund in Mar 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Median round joined **$30M** the round, not its cheque Led 3 of 7 rounds **43%** - **Sole investor:** Never alone - **Last cheque:** Oct 2026 Rounds by stage said on their site - Seed said *3* - Series A said *1* - Series B *1* - Series C *1* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Pantera Capital](https://millionrounds.com/fund/pantera-capital) 3 - [Faction](https://millionrounds.com/fund/faction) 2 - [SE Ventures](https://millionrounds.com/fund/se-ventures) 2 - [Variant](https://millionrounds.com/fund/variant) 2 - [Wintermute Ventures](https://millionrounds.com/fund/wintermute-ventures) 2 **Pitching Faction?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Faction. A count of rooms they were both in, not a relationship either has claimed. [**Pantera Capital** VC firm **3** rounds together](https://millionrounds.com/fund/pantera-capital)[**Faction** VC firm **2** rounds together](https://millionrounds.com/fund/faction)[**SE Ventures** Corporate VC **2** rounds together](https://millionrounds.com/fund/se-ventures)[**Variant** VC firm **2** rounds together](https://millionrounds.com/fund/variant)[**Wintermute Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/wintermute-ventures) ## Recently backed The latest companies Faction put money into. [**PhotonPay** $40M · Oct 2026](https://millionrounds.com/company/photonpay)[**OpenFX** $94M · Mar 2026](https://millionrounds.com/company/openfx)[**TransCrypts** $15M · Oct 2025](https://millionrounds.com/company/transcrypts)[**Raiku** $11M · Sept 2025](https://millionrounds.com/company/raiku)[**Credit Coop** $4.5M · Sept 2025](https://millionrounds.com/company/credit-coop)[**Turnkey** $30M · Jun 2025](https://millionrounds.com/company/turnkey) ## Quick answers about Faction ### What does Faction invest in? Faction invests most often at Seed and Series A (67% of the rounds on record), in sectors such as Non-fungible, Decentralized and Cryptocurrency. ### How active is Faction? 7 investments on record, 2 of them in the last 12 months, and it led 3. The most recent was in Oct 2026. ### What has Faction invested in recently? Its most recent investments on record: PhotonPay (Series C, Oct 2026), OpenFX (Series A, Mar 2026) and TransCrypts (Seed, Oct 2025). ### How big are Faction's cheques? The median round it joins is $30M. ### Does Faction lead rounds? Yes: it led 3 of its 7 investments on record (43%). ### Is Faction investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does Faction invest alongside? Most often Pantera Capital (3 rounds together), Faction (2 rounds together) and SE Ventures (2 rounds together). ### What kind of investor is Faction? Faction is a VC firm based in Menlo Park, United States. ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. 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