Aptos co-founder Mo Shaikh loves using the a-word, “adoption.” He believes today’s crypto venture funds are missing the key ingredients of operator experience and mentorship that startups need to progress from prototyping to growth. That’s why on Tuesday, Shaikh and three former Aptos executives, announced that their new firm Maximum Frequency Ventures (MFV) had raised $50 million to fund ambitious crypto founders.

“Crypto funds write checks and then wait for a token event. Accelerators race to demo days. Studios stop at prototypes,” Shaikh writes. “At MFV, we invest early, embed with teams, and stay until adoption takes hold.”

Shaikh is a seasoned corporate veteran and successful entrepreneur. “I wore a lot of suits before at BCG, BlackRock, RBC,” he says. His fellow MFV co-founders, Neil Harounian, Alexandre Tang, and Jerome Ong, also have similarly impressive resumes. “We know what it takes because we’ve carried the weight ourselves,” Shaikh explains.

The common thread uniting the MFV team, is of course, its experience at Aptos. The platform is a layer-one blockchain whose market capitalization was just above $2.6 billion at the time of writing. Aptos is one of several projects spun out of Meta along with the likes of Sui and Lightspark after Diem (formerly Libra), Meta’s crypto project, was shut down in 2022 due to regulatory hurdles.

Shaikh says Aptos has more than 200 projects building on its platform, which has given the MFV team a front-row seat to cutting edge innovation. They know what successful crypto projects look like, even as the team steps away from Aptos. Successful projects manage to get adoption, but Shaikh uses a different phrase to describe the mindset of successful founders: “MFers ready to build,” which he says also explains the “MF” in MF Ventures.

• What is Maximum Frequency Ventures (MFV)?
  A new $50 million venture fund founded by Aptos co-founder Mo Shaikh to back early-stage crypto builders.
• Who’s behind the fund?
  Shaikh leads MVF, together with three former Aptos executives: Neil Harounian, Alexandre Tang, and Jerome Ong.
• What makes MFV different from other crypto funds?
  It embeds with startups long-term, focusing on product adoption instead of quick token exits.
• Why is this launch significant?
  It highlights operator experience as a key ingredient of crypto’s next wave of innovation.

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