Syndicate is a Web3 startup whose stated goal is to demystify the DAO and bring DAOs to the masses. Its product, Web3 Investment Clubs, lets users spin up an investment group with peers by pooling capital and voting on how to allocate funds. The product launched three months ago, and more than 1,100 investment clubs have been created on the platform. Syndicate recently raised a $6 million strategic investment from over 50 customers and partners to support growth. Investors in the raise include Carta, Circle Ventures, OpenSea, Uniswap Labs' new venture arm, institutional funds-of-funds, nonprofits and web3 talent networks. The new raise brings Syndicate's total funding to just over $28 million, including a $20 million Series A led by Andreessen Horowitz last August. Syndicate operates a platform and protocol that supports DAO-powered Special Purpose Vehicles (SPVs) and other decentralized investment applications. The company completed a community raise of $800K from 100 early users, partners, and friends using an SPV-like Syndicate DAO on its own platform. Syndicate says DAO-powered SPVs are one of many applications it is rolling out now and in the weeks ahead, including Community DAOs, Ecosystem Funds, NFT Funds, and Economic Empowerment DAOs. The team frames the community raise as a first step toward making the platform community-owned and democratizing investing. Syndicate has launched several initiatives and collectives (IDEO Founder Collective, Terra Ecosystem Incubator, Delphi INFINFT, Komorebi Collective, Fiat Lux DAO, and Audacity) and is preparing a staged private beta rollout. The company positions the community raise as the beginning of broader efforts to grow and decentralize the platform over time.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

May 2022