Dragonfly

Dragonfly is a global venture capital firm established in 2018 that focuses exclusively on the cryptocurrency and decentralized economy. Composed of a team of over 45 professionals, the firm operates from offices in New York City and Singapore. Dragonfly aims to connect leading participants in the decentralized economy, investing in and supporting promising opportunities within the crypto asset class. The firm is recognized for its expertise and deep understanding of the rapidly evolving digital asset landscape.

Rahul Bishnoi

Inestor and Junior Partner at Liquid Fund

Ivan Bogatyy

Research Partner

Lawrence Diao

General Partner

Bo Feng

Managing Partner

Rob Hadick

General Partner

Kevin Hu

General Partner - Head of Liquid Strategies

Omar Kanji

Junior Partner

Sanat Kapur

Junior Partner

Dmitry Lapidus

Junior Partner

Lindsay Lin

COO

Anirudh Pai

Partner

Ryan Phua

Junior Partner and Liquid Strategies

Gengmo Qi

Partner

Haseeb Qureshi

Managing Partner

Ashwin Ramachandran

General Partner

Celia Wan

Junior Partner

Kitty Wang

CFO

Past deals in Blockchain

Ethena

Funding Round in 2025
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

Avalanche

Initial Coin Offering in 2024
Avalanche is an open-source platform designed for creating highly decentralized applications, financial primitives, and interoperable blockchains. It serves as a programmable smart contracts platform, enabling institutions, enterprises, and governments to launch assets and build applications. The platform allows users to create subnets with full control over their implementations, incorporating features such as compliance and data security directly into its framework. This versatility and focus on decentralization make Avalanche a robust choice for users seeking to develop innovative blockchain solutions.

Caldera

Series A in 2024
Caldera offers a no-code Web3 infrastructure platform to help developers spin up layer-2 blockchains. It allows users to create, launch, and manage customizable blockchain rollups. It also provides customizable fee structures, or the removal of transaction fees entirely, generating project revenue via transaction, bridge fees, or MEV, and adding support for other programming languages.

Polymarket

Series B in 2024
Polymarket is a prediction market platform that allows users to bet on the outcomes of various global events using cryptocurrency. Polymarket operates on the Ethereum blockchain, utilizing the Polygon network to enhance scalability and reduce transaction costs. Users connect to the platform through an Ethereum-compatible wallet and use the USDC stablecoin to place bets on events, ranging from political outcomes to entertainment predictions​.

Arbelos Markets

Seed Round in 2024
Arbelos Markets is a developer of a crypto trading platform that aims to enhance liquidity in various derivatives markets within the cryptocurrency sector. The platform operates in both high-touch and programmatic formats, catering to users across decentralized and centralized finance venues. By leveraging advanced technology, Arbelos Markets offers unprecedented access and transparency to counterparties, fostering increased trust in bilateral over-the-counter derivatives. This enables users to obtain customized crypto derivative solutions tailored to their specific needs.

MyShell

Seed Round in 2024
MyShell is a decentralized and comprehensive platform for discovering, creating, and staking AI-native apps.

Morph

Seed Round in 2024
Morph is a fully permissionless EVM L2 that uses a combination of optimistic and zero-knowledge rollup technology to open up new possibilities in banking, gaming, social media, and entertainment. Morph is the first Layer 2 on Ethereum to launch with a decentralized sequencer, which aligns with several important web3 concepts, including decentralization, censorship resistance, and security.

Avail

Seed Round in 2024
Avail is a team of innovators dedicated to transforming the blockchain world.

Ethena

Seed Round in 2024
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

Medallion

Series A in 2023
Medallion is a New York City-based company in the media and entertainment sector, launched in 2020. It has developed a blockchain-based platform aimed at connecting artists with their fans. This platform enables users to create digital environments and foster communities while facilitating the exchange of digital goods. By leveraging this technology, Medallion assists artists in enhancing fan engagement, gaining actionable insights, and maximizing their economic potential.

Ethena

Seed Round in 2023
Ethena provides derivative infrastructure in order to transform Ethereum into the first crypto-native yield bearing stablecoin.

Renegade

Seed Round in 2023
Renegade operates as an on-chain dark pool, distinguishing itself from traditional non-custodial decentralized exchanges by ensuring complete anonymity throughout the trading process. The platform employs advanced technologies such as multiparty computation and zero-knowledge proofs, facilitating a trustless trading environment that enhances price execution. This system effectively mitigates issues like front-running and sandwich attacks, allowing sophisticated traders to achieve superior pricing. By utilizing peer-to-peer order matching and atomic settlement of transactions, Renegade provides a secure and efficient platform for dark pool trading.

Monad

Seed Round in 2023
MONAD is a proof-of-stake (PoS) blockchain and decentralized computation platform that combines the best of performance and portability.

Caldera

Funding Round in 2023
Caldera offers a no-code Web3 infrastructure platform to help developers spin up layer-2 blockchains. It allows users to create, launch, and manage customizable blockchain rollups. It also provides customizable fee structures, or the removal of transaction fees entirely, generating project revenue via transaction, bridge fees, or MEV, and adding support for other programming languages.

SPICYEST

Seed Round in 2022
SPICYEST is a consulting and financial services firm specialized in digital assets. Our experts offer tailored advice and liquidity to help businesses succeed in this industry. With a focus on innovation, we help clients achieve their goals in a rapidly changing market.

Utorg

Seed Round in 2022
Utorg is a fintech company based in Tallinn, Estonia, founded in 2020. It specializes in providing a modern infrastructure for fiat-to-crypto exchanges, enhancing the user experience in the digital currency space. The company is licensed to offer various virtual currency services, including the exchange of virtual currencies for fiat currencies and vice versa, as well as virtual currency wallet services. Its platform includes a global payment infrastructure and an application programming interface designed for businesses, facilitating efficient trading of cryptocurrencies. Utorg aims to streamline the process for consumers and businesses engaging with digital assets, positioning itself as a key player in the web3 consumer infrastructure landscape.

Ejara

Series A in 2022
Ejara is a mobile investment platform tailored for Africa and its diaspora, allowing users to access a variety of investment opportunities, including fractional shares, commodities, and cryptocurrencies. The app leverages blockchain technology to facilitate global trading and investment in diverse financial products. It also offers features such as interest-bearing accounts, enabling users to save and grow their wealth while monitoring their investment performance. By providing a user-friendly interface, Ejara aims to empower individuals to manage their investments effectively and enjoy greater financial independence.

Matter Labs

Series C in 2022
Matter Labs is a company that focuses on developing blockchain solutions to enhance the scalability and privacy of decentralized applications. Founded in 2018 and headquartered in Berlin, Germany, the firm utilizes zero-knowledge technologies to facilitate interactions between untrusted parties on its network. By implementing zero-knowledge proofs, Matter Labs aims to accelerate public blockchain adoption and provide a more efficient alternative to existing financial systems. Their innovations are rooted in a commitment to improving access to financial services through open and transparent technology.

Spindl

Seed Round in 2022
Spindl is a developer of a blockchain-based attribution system that assists businesses in enhancing user growth through intelligent data analysis. The platform offers insights into customer behavior, retention rates, and return on investment related to token drops. Additionally, it evaluates customer acquisition costs in relation to advertising spend and wallet conversion rates. By providing comprehensive analytics, Spindl enables companies to make informed marketing decisions within the web3 landscape.

OneKey

Series A in 2022
OneKey is a developer of a crypto security platform that enables users to securely store and manage various crypto assets, including cryptocurrencies, non-fungible tokens (NFTs), and decentralized applications (dapps). The platform provides an open-source crypto wallet, allowing users to buy and trade popular digital currencies such as Bitcoin, Ethereum, and Solana. With a focus on safety and convenience, OneKey aims to enhance the experience of all Web3 users by offering a reliable solution for managing their digital assets.

Harpie

Seed Round in 2022
Harpie is a pioneering on-chain firewall designed to safeguard users against hacks, scams, and theft in the cryptocurrency space. The company provides a platform that actively monitors pending transactions to identify potential threats, allowing it to intercept and block malicious activities before they can compromise users' assets. By offering simple and secure backup solutions alongside proprietary on-chain security, Harpie enables users to protect their crypto wallets across multiple blockchains. This comprehensive approach not only helps in recovering stolen assets but also empowers users to monitor and defend against unauthorized transactions in real-time, ensuring enhanced security for their digital assets.

Aptos

Venture Round in 2022
Aptos is a web3 startup that builds a scalable Layer 1 blockchain that enables developers to design scalable, future-proof apps. The Aptos team consists of a talented group of engineers, researchers, strategists, designers, and constructors. The company was founded in 2021 and is based in Palo Alto, California.

Goldsky

Seed Round in 2022
Goldsky is a developer-focused platform that enables the creation of real-time application programming interfaces (APIs) using data from Ethereum and other blockchain networks. The company's software simplifies the process for developers by providing the necessary tools to build reliable, real-time applications without the need for extensive data manipulation in their front-ends or back-ends. By streamlining access to blockchain data, Goldsky empowers developers to quickly and efficiently develop applications that rely on real-time information.

Kaito

Seed Round in 2022
Kaito is an AI-powered search engine designed specifically for digital assets, focusing on providing actionable insights for crypto investors, researchers, developers, and the general public. The platform employs advanced in-house AI technologies to aggregate, sort, and curate real-time information from a variety of sources, including social media, publishing platforms, audio content, and industry news. By transforming vast amounts of unstructured data into structured information, Kaito aims to democratize access to critical insights within the crypto industry, thereby enhancing the research process for its users.

MetaStable

Acquisition in 2022
Manage Crypto Asset Hedge Funds.

MetaverseGo

Seed Round in 2022
MetaverseGo is a decentralized Web 3.0 platform designed to facilitate access to play-and-earn games, guilds, NFTs, and decentralized applications. It aims to simplify the entry for both gamers and newcomers by providing an intuitive experience that allows users to engage with various gaming and blockchain assets using just their mobile number. The platform not only enables participation in gaming guilds and NFT collections but also allows users to utilize their earnings across multiple payment platforms, thereby enhancing asset ownership and connectivity within the gaming industry.

Quadrata

Seed Round in 2022
Quadrata is a Passport Network that brings the identity and compliance layer to DeFi across existing public blockchains. The company was founded in 2021 by Lisa Fridman and Fabrice Cheng and is headquartered in Marina Del Rey, California.

Entropy

Seed Round in 2022
Entropy provides crypto custody services to keep private keys secure and make assets available on demand. Its services specialize in creating a decentralized network leveraging advanced threshold cryptography and multi-party computation. The company was founded in 2021 and is headquartered in New York.

ZGEN

Venture Round in 2022
ZGEN is a software firm that builds smart contracts on web3 applications for DeFi and DAO communities. They also involve in tobBuilding essentials for internet communities.

Parcl

Venture Round in 2022
Parcl is a blockchain-based platform focused on real estate investment, enabling users to invest in fractional ownership of physical properties by purchasing digital square feet. The platform incorporates advanced data analytics to track real estate price movements, utilizing millions of data points to create precise, city-level real estate indexes. These indexes are updated daily, providing users with timely insights into market trends. By simplifying access to real estate investments, Parcl allows individuals to engage with a diverse portfolio of properties through a single, streamlined transaction.

Metatheory

Series A in 2022
Metatheory Inc. is an interactive technology and entertainment company building Web3 games, interactive content, social experiences, and other community-driven adventures. Metatheory’s mission is to inspire imagination by connecting people worldwide through immersive worlds built on cross-generational IP.

Blast Royale

Initial Coin Offering in 2022
Blast Royale is a blockchain-based play-to-earn platform that allows players to earn Craft Spice while playing matches. The game uses two tokens, the primary token Blast (BLST) and Craft Spice (CS), the in-game P2E token of the Blast Royale Metaverse. BLST is used for trading NFTs on the Blast Royale marketplace and crafting new NFTs, whereas CS has numerous utility uses, including crafting and repairing equipment. Players earn CS by taking part in Blast Royale matches.

bloXroute Labs

Series B in 2022
BloXroute Labs, Inc. is a company that offers a blockchain scalability solution designed to enhance the performance of cryptocurrencies and blockchains without requiring protocol changes. Established in 2018 and based in Evanston, Illinois, the company operates a blockchain distribution network that allows for the processing of thousands of transactions per second on-chain. Its platform leverages a global network of servers optimized for network performance through techniques such as compression and encryption. This infrastructure facilitates the rapid propagation of transactions and blocks, thereby improving data efficiency and increasing overall transaction throughput. BloXroute's approach is designed to maintain consensus across all nodes, ensuring it remains provably neutral and applicable to any blockchain.

Ethlas

Seed Round in 2022
Ethlas is a Web3 software and gaming company focused on revolutionizing the gaming industry by utilizing blockchain technology to create innovative user experiences. The company aims to make Web3 accessible and secure for a broad audience, facilitating the monetization of gaming through play-to-earn models that allow players to earn cryptocurrency rewards. Ethlas develops gaming and infrastructure tools that enhance the usability and safety of Web3 for both gamers and businesses. Players can engage in various skill-based games, compete in rankings, and participate in tournaments, thereby enriching their gaming experience while benefiting from the economic opportunities provided by the Web3 ecosystem.

Apex

Seed Round in 2022
ApeX is a developer of an innovative derivatives protocol that focuses on creating perpetual swap markets for various token pairs. The company provides a decentralized, permissionless, non-custodial, and censorship-resistant platform for trading perpetual contracts. This approach allows clients to leverage the scalability and compatibility of arbitral technology, which helps reduce transaction costs and enhance execution speed. Additionally, ApeX is launching game NFTs aimed at enhancing the derivatives trading experience for Web3 users.

SPICYEST

Pre Seed Round in 2022
SPICYEST is a consulting and financial services firm specialized in digital assets. Our experts offer tailored advice and liquidity to help businesses succeed in this industry. With a focus on innovation, we help clients achieve their goals in a rapidly changing market.

Axelar

Series B in 2022
Axelar is a company focused on creating interoperability software that facilitates communication between different blockchain ecosystems, applications, and users. Founded in 2020 by Sergey Gorbunov and Georgios Vlachos, Axelar Network encompasses a suite of protocols, tools, and APIs designed to eliminate barriers to cross-chain communication. The company utilizes byzantine consensus, cryptography, and mechanism design protocols to enable decentralized applications to operate across various blockchains seamlessly. This allows developers to select the most suitable platform for their needs while leveraging Axelar's solutions to enhance cross-chain composability and liquidity. Through its offerings, Axelar aims to simplify the development of cross-chain decentralized applications, providing users with a robust and distributed network.

NEAR

Initial Coin Offering in 2022
NEAR Inc. is a technology company that specializes in developing a blockchain protocol designed to facilitate the creation of decentralized applications. Founded in 2017 and headquartered in San Francisco, California, NEAR Protocol offers a secure and scalable platform capable of managing high-value assets such as money and identity. The company provides a range of services, including documentation, wallet, studio, and explorer tools, to support developers in writing, testing, and deploying decentralized applications. By leveraging advanced technology, NEAR aims to bridge the adoption gap for mainstream commercial software, enabling the development of performance-oriented applications across various business sectors.

Entropy

Pre Seed Round in 2021
Entropy provides crypto custody services to keep private keys secure and make assets available on demand. Its services specialize in creating a decentralized network leveraging advanced threshold cryptography and multi-party computation. The company was founded in 2021 and is headquartered in New York.

Vibra

Seed Round in 2021
Vibra is an online crypto-currency application that specializes in investments, blockchain, and funding services.

InfStones

Series B in 2021
InfStones, founded in 2018, is a prominent blockchain infrastructure provider with offices in three countries across two continents. The company specializes in offering services to large institutional clients worldwide, supporting thousands of nodes on over 50 public blockchains through its universal platform. In addition to its core infrastructure services, InfStones has developed a decentralized cloud storage platform that facilitates secure main net hosting for institutions. This platform aims to reduce the barriers to blockchain connectivity, allowing clients to swiftly build and deploy applications on various blockchain networks.

Parcl

Seed Round in 2021
Parcl is a blockchain-based platform focused on real estate investment, enabling users to invest in fractional ownership of physical properties by purchasing digital square feet. The platform incorporates advanced data analytics to track real estate price movements, utilizing millions of data points to create precise, city-level real estate indexes. These indexes are updated daily, providing users with timely insights into market trends. By simplifying access to real estate investments, Parcl allows individuals to engage with a diverse portfolio of properties through a single, streamlined transaction.

ConsenSys

Series C in 2021
ConsenSys, founded in 2015 by Joseph Lubin, is a leading Ethereum software company focused on Web 3.0 development. It provides a comprehensive suite of products, including Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, which enable developers, enterprises, and individuals to create next-generation applications and modern financial infrastructure while accessing the decentralized web. The platform offers essential tools and libraries for building and scaling decentralized applications, facilitating interaction with blockchain networks and smart contracts. ConsenSys also emphasizes education through ConsenSys Academy, which aims to bridge the Ethereum knowledge gap globally. By supporting billions of blockchain-based queries and managing significant digital asset transactions, ConsenSys plays a pivotal role in fostering the broader adoption and integration of blockchain technology, contributing to the development of the digital economy of the future.

Parcel

Seed Round in 2021
Parcel streamlines payroll and payments for web3 teams

Taker Protocol

Seed Round in 2021
Taker Protocol is a cryptocurrency liquidity protocol focused on non-fungible tokens (NFTs). The protocol optimizes the liquidation of NFT assets through a quote-by-lock-in pricing mechanism. This approach enables asset holders to borrow stablecoins while facilitating cross-chain bridges that connect different public blockchain networks. By enhancing the efficiency of asset transfers, Taker Protocol aims to broaden application scenarios for its clients, thereby improving the overall liquidity and usability of NFT assets in the market.

Ava Labs

Initial Coin Offering in 2021
AVA Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empowering people to build an open, simple, and democratic internet of finance.

Cabital

Seed Round in 2021
Cabital is a crypto savings platform that facilitates the buying and selling of cryptocurrencies while offering a range of cryptocurrency products. It aims to create a user-friendly and securely regulated environment, making it accessible for beginners and comprehensive enough for experienced traders. The platform allows investors to earn returns on their crypto assets with minimized risks and costs, thereby simplifying the investment process in the cryptocurrency market. Through its intuitive design, Cabital seeks to provide a reliable and efficient experience for users looking to engage with digital currencies.

Dune Analytics

Series A in 2021
Dune Analytics AS, founded in 2018 by Fredrik Haga and Mats Olsen, is based in Oslo, Norway, and specializes in providing an analytics platform focused on Ethereum blockchain data. The company offers a powerful tool that enables users to query, extract, and visualize extensive amounts of on-chain data. Its software allows anyone to create SQL queries and analyses, instantly transforming results into visual graphs that can be shared within the community. This accessibility makes complex blockchain data consumable for a broad range of users, facilitating insights and research within the crypto space.

Axelar

Series A in 2021
Axelar is a company focused on creating interoperability software that facilitates communication between different blockchain ecosystems, applications, and users. Founded in 2020 by Sergey Gorbunov and Georgios Vlachos, Axelar Network encompasses a suite of protocols, tools, and APIs designed to eliminate barriers to cross-chain communication. The company utilizes byzantine consensus, cryptography, and mechanism design protocols to enable decentralized applications to operate across various blockchains seamlessly. This allows developers to select the most suitable platform for their needs while leveraging Axelar's solutions to enhance cross-chain composability and liquidity. Through its offerings, Axelar aims to simplify the development of cross-chain decentralized applications, providing users with a robust and distributed network.

arcX

Venture Round in 2021
arcX is a provider of cybersecurity training, offering a range of accredited programs designed to enhance skills in various areas such as threat intelligence, penetration testing, and incident response. The training is recognized by CREST, an organization that sets standards for cybersecurity professionals. In addition to its training services, arcX also operates as a scoring protocol that issues a DeFi Passport, aimed at improving credit scores within the decentralized finance sector. This dual focus on education and financial innovation positions arcX as a significant player in both cybersecurity training and the evolving landscape of decentralized finance.

Alkimiya Protocol

Venture Round in 2021
Alkimiya Protocol builds capital markets for blockspace. They allow consensus producers to hedge or monetize the premium on cash flow from blockspace and use the cash flow accrued from blockspace as financial legos to construct yield sources.

PoolTogether

Series A in 2021
PoolTogether Inc. operates an Ethereum-based application that combines saving money with a gamified experience. Founded in 2019 and based in Grand Rapids, Michigan, PoolTogether features a no-loss savings game where users deposit funds that earn interest through a compound protocol. At the end of each week, participants have the chance to win the collective interest accrued, while all users can withdraw their initial deposits without any loss. This innovative platform leverages smart contracts to ensure transparency and fairness, allowing users to save money without the risks associated with traditional lotteries. By utilizing blockchain technology, PoolTogether aims to make saving accessible and engaging for its users.

Commonwealth Labs

Venture Round in 2021
Commonwealth Laboratories, Inc. operates a diagnostic laboratory that specializes in tests for functional gastrointestinal disorders. Founded in 1985 and based in San Francisco, California, the company serves as a resource platform for healthcare providers, offering specialized diagnostic solutions to aid in patient diagnosis. Additionally, Commonwealth Labs is involved in developing governance technology for decentralized organizations, providing a blockchain protocol-based system that enhances decision-making and resource allocation. This dual focus on healthcare diagnostics and innovative governance solutions positions Commonwealth Laboratories as a multifaceted entity addressing both medical and organizational needs.

Showtime

Seed Round in 2021
Showtime is a non-fungible token (NFT) social network where people can discover and share NFT art. Showtime aims to provide the crypto community with a social media interface.

Kikitrade

Seed Round in 2021
Kikitrade is a cryptocurrency social investment platform founded in 2020 and based in Hong Kong. It caters to both beginners and experienced investors by offering a user-friendly and secure trading experience for digital assets. The platform is regulated by the Australian government financial intelligence agency, ensuring the protection of users' accounts. Kikitrade enables users to trade cryptocurrencies with zero commission fees while fostering an interactive and educational community within the app. This approach aims to make cryptocurrency investment accessible and engaging for mainstream investors.

Anchor Protocol

Venture Round in 2021
Anchor Protocol is a savings platform that provides crypto natives, fintech companies, and investors a stable, high interest rate finance. The company was founded in 2020 and is headquartered in Seoul, South Korea.

Showtime

Pre Seed Round in 2021
Showtime is a non-fungible token (NFT) social network where people can discover and share NFT art. Showtime aims to provide the crypto community with a social media interface.

NEAR

Venture Round in 2021
NEAR Inc. is a technology company that specializes in developing a blockchain protocol designed to facilitate the creation of decentralized applications. Founded in 2017 and headquartered in San Francisco, California, NEAR Protocol offers a secure and scalable platform capable of managing high-value assets such as money and identity. The company provides a range of services, including documentation, wallet, studio, and explorer tools, to support developers in writing, testing, and deploying decentralized applications. By leveraging advanced technology, NEAR aims to bridge the adoption gap for mainstream commercial software, enabling the development of performance-oriented applications across various business sectors.

Stablehouse

Seed Round in 2020
Stablehouse Ltd operates a stablecoin platform that facilitates payments, foreign exchange, trading, and liquidity solutions for individuals and institutions. Founded in 2018 and based in Hamilton, Bermuda, the company provides a range of services, including passive earning opportunities, merchant payment solutions, a payment wallet, and custom solutions tailored to client needs. The platform also features a crypto exchange, allowing users to invest in digital currencies while earning yield on their coin balances. By offering accessible financial transactions through various interfaces, Stablehouse aims to empower users to become informed cryptocurrency owners while minimizing risk.

Sia

Seed Round in 2020
Sia is the leading decentralized cloud storage platform. No signups, no servers, no trusted third parties. Sia leverages blockchain technology to create a data storage marketplace that is more robust and more affordable than traditional cloud storage providers.

Nebulous

Seed Round in 2020
Nebulous, Inc. is a Boston-based company founded in 2014 that specializes in developing blockchain hardware and software infrastructure for the decentralized internet. The company is known for its flagship product, Sia, a decentralized cloud storage platform that utilizes blockchain technology to create a marketplace for data storage. Additionally, Nebulous offers Skynet, a decentralized content delivery network (CDN) and file-sharing platform aimed at developers, along with SiaStream, which provides affordable storage solutions for media files to enable fast streaming. As a core contributor and maintainer of the open-source Skynet project, Nebulous plays a significant role in advancing the decentralized web ecosystem.

WOO Network

Seed Round in 2020
WOO Network is a trading platform provider focused on delivering above-average liquidity for spot and futures trading while offering zero or negative trading fees. The platform facilitates connections between traders, exchanges, institutions, and decentralized finance (DeFi) platforms, thereby democratizing access to liquidity and trading execution. By prioritizing market efficiency, WOO Network aims to enhance trading experiences for its users, enabling them to achieve optimal market conditions at minimal or no cost.

Cozy Finance

Seed Round in 2020
Cozy Finance, Inc. is a Seattle-based company that specializes in developing risk management software for the decentralized finance (DeFi) sector. Founded in 2020, the company offers a permissionless, peer-to-peer protection solution that enables users to invest in DeFi with safeguards against hacks and exploits. The software is designed for developers to help crypto investors effectively manage their assets, unlocking their full potential. Additionally, Cozy Finance allows users to deposit funds that can be utilized for protected investing, enhancing the security and confidence of participants in the DeFi space.

DerivaDEX

Seed Round in 2020
DerivaDEX is a community-governed derivatives exchange designed to enhance performance and autonomy while ensuring the security of a decentralized platform. Built on the Ethereum blockchain, it employs a liquidity-mining token model that empowers users to engage actively in the governance and operations of the exchange. Utilizing an open order book and on-chain settlement for trades, DerivaDEX aims to create a next-generation trading environment. Its native token facilitates user participation and supports the exchange's decentralized structure, combining advanced technology with community oversight.

Paradigm

Seed Round in 2020
Paradigm Connect, doing business as Paradigm, is a zero-fee, liquidity network for crypto derivatives traders across CeFi and DeFi. The platform provides traders with unified access to multi-asset, multi-protocol liquidity on demand without compromising on price, size, cost, and immediacy. The firm’s mission is to create a platform where traders can trade anything, with anyone and settle it anywhere. Paradigm has the largest network of institutional counterparties in crypto with over 1,000 institutional clients trading over $10B per month, including Hedge Funds, OTC Desks, Lenders, Structured Product Issuers, Market Makers, and prominent Family Offices.

Ava Labs

Initial Coin Offering in 2020
AVA Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empowering people to build an open, simple, and democratic internet of finance.

Coin Metrics

Series A in 2020
Coin Metrics Inc. is a provider of blockchain and cryptocurrency data, offering comprehensive market and network analytics to various industries. The company delivers a range of services, including the CM Network Data Pro, which provides historical crypto network data aggregated daily for prominent assets, and the CM Market Data Feed, which standardizes trade, candle, and order book data across multiple exchanges. Additionally, Coin Metrics offers CM Reference Rates, which provide fixed pricing for various assets quoted in U.S. dollars. Founded in 2017 and based in Cambridge, Massachusetts, Coin Metrics aims to empower institutions and individuals to make informed decisions regarding crypto assets by providing transparent and actionable data analytics.

Amber Group

Series A in 2020
Amber Group is a cryptocurrency financial services provider based in Hong Kong, established in 2017 by finance professionals from leading institutions. The company offers a range of services including liquidity provision, trading, asset management, yield enhancement, collateralized lending, decentralized finance, and electronic market making. Operating globally, Amber Group serves over 200 institutional clients and has facilitated cumulative trading exceeding $200 billion across numerous electronic exchanges, with an average daily trading volume of $100-200 million. The company is dedicated to enhancing client experiences by leveraging advanced technology and quantitative research, aiming to optimize investment flexibility and maximize returns. Amber Group has also raised significant capital to support its growth and innovation in the cryptocurrency space.

TaxBit

Seed Round in 2020
TaxBit is a software company that specializes in cryptocurrency tax and accounting solutions. Its platform automates the calculation and reporting of taxes on cryptocurrency transactions by allowing users to connect their exchanges and wallets, which enables seamless data integration. This functionality helps users generate necessary tax forms automatically. In addition to tax automation, TaxBit offers features for real-time portfolio tracking and tax optimization, allowing users to make informed, tax-efficient trading decisions throughout the year. The company serves both individual crypto enthusiasts and enterprises, providing a comprehensive approach to managing digital asset accounting and compliance.

Nervos

Venture Round in 2019
The Nervos Network is an open source public blockchain ecosystem and collection of protocols solving the biggest challenges facing blockchains today. The Nervos CKB (Common Knowledge Base) is the layer 1, proof of work public blockchain protocol of the Nervos Network. Any crypto-asset can be stored, with the security, immutability and permissionless nature of Bitcoin, while enabling smart contracts, layer 2 scaling, and the capture of total network value through a unique crypto-economic "store of value" design and native token, the CKByte. The design of the Nervos Network is a sustainably secure, permissionless and decentralized Layer 1 blockchain that is built to scale with Layer 2 solutions, making Nervos the only PoW, multi-asset, store of value, smart contract platform.

MakerDAO

Venture Round in 2019
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the IMF’s international currency basket SDR. Founded in 2014, the company is headquartered in Santa Cruz, California.

Matrixport

Venture Round in 2019
Matrixport is a comprehensive financial services platform focused on digital assets, allowing users to invest, trade, and leverage cryptocurrencies. It offers a blockchain-based platform that facilitates trading, custody, lending, and asset management of crypto assets. By providing these services, Matrixport enables users and clients to effectively manage their finances and capital in the evolving digital currency landscape.

Matter Labs

Seed Round in 2019
Matter Labs is a company that focuses on developing blockchain solutions to enhance the scalability and privacy of decentralized applications. Founded in 2018 and headquartered in Berlin, Germany, the firm utilizes zero-knowledge technologies to facilitate interactions between untrusted parties on its network. By implementing zero-knowledge proofs, Matter Labs aims to accelerate public blockchain adoption and provide a more efficient alternative to existing financial systems. Their innovations are rooted in a commitment to improving access to financial services through open and transparent technology.

Nebulous

Seed Round in 2019
Nebulous, Inc. is a Boston-based company founded in 2014 that specializes in developing blockchain hardware and software infrastructure for the decentralized internet. The company is known for its flagship product, Sia, a decentralized cloud storage platform that utilizes blockchain technology to create a marketplace for data storage. Additionally, Nebulous offers Skynet, a decentralized content delivery network (CDN) and file-sharing platform aimed at developers, along with SiaStream, which provides affordable storage solutions for media files to enable fast streaming. As a core contributor and maintainer of the open-source Skynet project, Nebulous plays a significant role in advancing the decentralized web ecosystem.

ErisX

Series B in 2019
ErisX specializes in digital asset space that offers both spot and futures contracts on one platform. It integrates digital asset products and technology into reliable, compliant, and robust capital markets workflows. ErisX solution provides trading, deposits, and withdrawals on a stable, proven capital markets technology infrastructure. The company was founded in 2018 and is headquartered in Chicago, Illinois.

ParaFi Capital

Corporate Round in 2018
ParaFi Capital is an alternative asset management and technology firm based in San Francisco, California. Founded in 2018, it focuses on liquid and venture investment strategies within the digital asset ecosystem, including companies in fintech and blockchain. As one of the earliest institutional investors in the blockchain industry, ParaFi has established itself as a trusted partner for leading global institutions. The firm aims to leverage its expertise to identify and support innovative companies operating in this rapidly evolving sector.

Gauntlet

Seed Round in 2018
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.

dYdX

Series A in 2018
dYdX is a decentralized exchange that provides traders with a secure and efficient platform for various financial activities. Established in 2017 by Antonio Juliano, a former engineer at Coinbase and Uber, dYdX operates on audited smart contracts on Ethereum, ensuring transparency and security without relying on a central authority. The platform offers a range of trading options, including perpetual, margin, and spot trading, along with borrowing and lending pools. Users can earn interest on deposits or take loans at nominal fees, enabling them to trade on margin with customized leverage. dYdX aims to create an open financial system, granting users access to vital financial tools while facilitating fully collateralized loans for short-selling.

Lumina

Seed Round in 2018
The operating system for digital assets. Confidently navigate the fragmented digital assets landscape with the most comprehensive crypto-native financial platform. Lumina is trusted by leading investment funds, enterprises, and professionals who demand an institutional-grade solution.

Risk Labs

Venture Round in 2018
Risk Labs is the foundation and core team behind the Across and UMA Protocols.
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