Key Takeaways
- • Mo Shaikh, cofounder of Aptos Labs, and three early Aptos employees have raised $50 million for Maximum Frequency Ventures, a newly launched crypto-focused venture fund.
- • The fund's four cofounders—Shaikh, Neil Harounian (former head of ecosystem at Aptos), Alexandre Tang (former head of APAC institutions), and Jerome Ong (former APAC ecosystem lead)—have personally invested in the fund alongside external limited partners from family offices across the U.S., East Asia, and Southeast Asia.
- • Maximum Frequency Ventures positions itself as an operator-led fund designed to support crypto founders from concept to scale, competing in a landscape that includes established players like Paradigm, Dragonfly, and Haun Ventures.
- • The fund launch occurs during a challenging period for crypto venture capital, with venture investments in the sector declining 55% to $6.8 billion in Q2 2025 compared to Q1, according to Pitchbook data, despite elevated cryptocurrency prices.
Summary
Mo Shaikh, cofounder of blockchain development platform Aptos Labs, announced the formation of Maximum Frequency Ventures on Tuesday, October 14, 2025, with an inaugural $50 million fund dedicated to crypto venture investing. The fund was established by Shaikh alongside three former Aptos colleagues: Neil Harounian, the first employee hired at Aptos Labs and its former head of ecosystem; Alexandre Tang, former head of APAC institutions; and Jerome Ong, former APAC ecosystem lead. The fund's name derives from Shaikh's philosophy that building exceptional companies requires intense focus and dedication—a concept he characterized colorfully as requiring "fuck you energy."
The capital was raised from a combination of the four cofounders' personal investment and limited partners consisting of family offices located across the United States, East Asia, and Southeast Asia. Shaikh declined to disclose specific details regarding the LP base composition or the founders' individual capital commitments, stating only that "we do have skin in the game." This operator-led model reflects the team's direct experience building and scaling a major crypto infrastructure platform, positioning them as active participants rather than passive investors in the ventures they back.
Maximum Frequency Ventures enters a competitive but increasingly mainstream segment of the venture capital industry. Crypto-focused funds have evolved from novelty status to established category players, with well-capitalized competitors including Paradigm, Dragonfly, and Haun Ventures. The fund aims to differentiate through its operator-led approach, assisting founders in scaling from initial concept through growth phases.
The timing of the fund's launch coincides with a pronounced contraction in crypto venture capital activity. According to Pitchblock data, venture investments in crypto declined 55% quarter-over-quarter, falling from an earlier quarterly total to $6.8 billion in Q2 2025, despite concurrent strength in underlying cryptocurrency prices. This disconnect between asset price appreciation and venture deployment reflects broader challenges facing venture capital markets more generally, including constrained LP capital availability and selective deal-making by established funds.
The capital was raised from a combination of the four cofounders' personal investment and limited partners consisting of family offices located across the United States, East Asia, and Southeast Asia. Shaikh declined to disclose specific details regarding the LP base composition or the founders' individual capital commitments, stating only that "we do have skin in the game." This operator-led model reflects the team's direct experience building and scaling a major crypto infrastructure platform, positioning them as active participants rather than passive investors in the ventures they back.
Maximum Frequency Ventures enters a competitive but increasingly mainstream segment of the venture capital industry. Crypto-focused funds have evolved from novelty status to established category players, with well-capitalized competitors including Paradigm, Dragonfly, and Haun Ventures. The fund aims to differentiate through its operator-led approach, assisting founders in scaling from initial concept through growth phases.
The timing of the fund's launch coincides with a pronounced contraction in crypto venture capital activity. According to Pitchblock data, venture investments in crypto declined 55% quarter-over-quarter, falling from an earlier quarterly total to $6.8 billion in Q2 2025, despite concurrent strength in underlying cryptocurrency prices. This disconnect between asset price appreciation and venture deployment reflects broader challenges facing venture capital markets more generally, including constrained LP capital availability and selective deal-making by established funds.
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