The Venture Codex

Participated · Seed · Oct 2024

Axal is developing a network of autonomous agents that execute user requests by generalizing intents into multistep actions and completing them on blockchain. The company uses an ecosystem of AI solvers that bid to execute request steps; successful actions are stamped on the blockchain to provide verifiable proof of correct execution. Many agents focus on monetary products within decentralized finance, enabling automated swaps, trades, and yield management. Axal’s first product, Autopilot, is a trading platform powered by these autonomous agents and begins by using user risk-assessment questions to allocate strategies. Autopilot lets token holders build strategies without tracking prices; the agents handle trades, swaps, and yield management automatically. Founder Ash Ahmed frames the product as combining intent abstraction, blockchain trust guarantees, and competitive agent markets. Axal plans to use new funding to expand its team and further develop the agent creation, coordination, and verification architecture.

Participated · Equity · Sep 2024

Hemi is a modular blockchain network built on Bitcoin and Ethereum designed to deliver superior scaling, security, and interoperability. Its core product offerings include the Hemi Virtual Machine (hVM), which integrates a full Bitcoin node within an EVM to let developers build smart contracts that work with both chains while remaining backwards-compatible with existing EVM dApps and wallets. The Hemi Bitcoin Kit (hBK) unlocks direct smart-contract access to granular Bitcoin state, enabling Bitcoin-native applications such as staking, lending markets, and MEV marketplaces. Other foundational features include Superfinality (a Proof-of-Proof consensus inheriting Bitcoin’s security), trustless cross-chain Tunnels for secure asset portability, and on-chain asset programmability (time-locks, routing, password protection, and gasless transfers). Hemi’s incentivized testnet is live and the team targets a mainnet launch in Q4 2024; the company announced a $15 million founding investment round to support development and launch. Hemi Labs was co-founded by early Bitcoin developer Jeff Garzik and blockchain security pioneer Max Sanchez and announced the round from Chicago.

Participated · Seed · Jul 2024

Prodia provides a distributed GPU cloud specifically designed for AI inference and exposes services via a REST API. Its platform reduces costs by 50%–90% and accelerates generation speeds for inference workloads. The company plans to use new funding to accelerate growth, expand into generative video, and support additional large language models. It also intends to grow its network to support more types of GPU hardware and more types of providers. Prodia raised $15M in a Seed round led by Dragonfly Capital. The company was founded by Monty Anderson, Mikhail Avady, and Shawn Wilkinson and is based in Atlanta, GA.

Participated · Seed · Apr 2024

Sapien operates an on-chain protocol that lets enterprises obtain verified, human-sourced training data while enabling anyone, anywhere, to earn for contributing their knowledge. The system is built around four core components—Quality Assurance, Reputation, Qualification, and Matching—underpinned by a proprietary “Proof of Quality” mechanism that routes tasks and maintains data integrity without centralized oversight. Since launch, Sapien has grown to over 1.9 million registered contributors across 110+ countries who have completed more than 187 million tasks, with average session lengths approaching 40 minutes. Customers already include Toyota, Lenovo, Baidu, MidJourney, the United Nations, Uthana, and two unnamed autonomous-vehicle manufacturers. The company initially focused on image annotation but now positions itself as a full-stack “data foundry” spanning sourcing, structuring, feedback loops, and fine-tuning. Its long-term vision is to become the open, permissionless connective tissue between humans and AI, powering a global data economy. Sapien secured a $10.5 million seed round in 2024 to expand both the contributor experience and its enterprise interface, giving it runway to pursue this roadmap.

Participated · Seed · Mar 2024

Unstable is a liquidity-restaking protocol focused on powering zkOracles for DeFi. The protocol uses zkOracles to enhance functionality in the LRTfi market. Its lending protocol engine is supported by a zkSNARK-based verifier and EigenLayer AVS balance proofs. The company completed a $2.5M seed financing to advance its zkOracles infrastructure. The raise will be used to power and develop its zkOracles.