Participated · Equity · Jun 2022

System 9 provides software-based trading services to token issuers and digital asset exchanges to build liquidity, increase stability, and augment price discovery. The firm operates proprietary market-making technology and supports token issuers and exchanges with trading services. It intends to use new funding to further scale technology infrastructure and business operations that support its market-making platform and to expand its service offerings. System 9 has grown over the past two years and is now servicing more than 80 clients. The company is headquartered in Los Angeles and also maintains offices in London and Singapore. Its executive team is led by Peter Sokolow (CEO), Marc Orenstein (CFO) and Joshua Baker (COO).

Participated · Series B · Mar 2022

CoinRoutes is a Miami, FL-based algorithmic trading platform that provides institutional clients with pure-play crypto SaaS trading technology. Its product suite includes trading algorithms, market access, transaction cost analysis (TCA), and market data. The company consolidates market data and offers algorithmic trading for over a thousand spot and derivative instruments from more than 50 major exchanges and liquidity providers, operating 24/7. A patent-pending distributed architecture allows clients to retain control over their wallets and keys. Led by CEO Dave Weisberger, CRO Michael Holstein, and CTO Ian Weisberger, CoinRoutes raised $16M in a Series B and plans to use the funds to expand operations and broaden its business reach.

Participated · Series A · Nov 2021

Woo Network operates a deep-liquidity trading network and a decentralized exchange (WOOFi) that provide top market liquidity, reduced slippage, and lower-to-zero trading fees. Led by Jack Tan and incubated by Kronos Research, the company leverages institutional trading expertise; Kronos Research averages around $5–10 billion of daily trading volume on global crypto exchanges. Woo offers a trading platform that supplies traders with top liquidity and WOOFi for swaps with reduced slippage. The company plans to use new capital to accelerate global market expansion through talent acquisition and to open a new R&D regional office in Warsaw, Poland. Product roadmap includes development of futures, social trading, and a suite of DeFi trading and yield-generating products. The company is based in George Town, Cayman Islands.

Participated · Equity · Apr 2021

Sovryn is a Bitcoin-native, decentralized trading and lending platform that enables permissionless, non-custodial and censorship-resistant trading by ensuring users hold the keys to their bitcoin. The platform offers spot and margin trading, borrowing and lending, and liquidity provision across investment pools built on bitcoin as the reserve currency. Sovryn emphasizes individual self-sovereignty and financial autonomy and is led by CEO Edan Yago. The company said it will use the new funding to expand its global financial operating system. Operational metrics disclosed include $1,552,421,305 in total spot traded volume and $112,131,176 in total margin traded volume. Sovryn reports $322MM+ in total borrowed and lent volume, over $214M in lending activity, and almost 50,000 individual wallets. Sovryn is a Bitcoin-based DeFi protocol that aims to bring decentralized financial tools and sovereignty to the Bitcoin ecosystem. The project focuses on building transparent, incorruptible financial software managed by a global community of contributors rather than a single company. Sovryn’s leadership emphasizes decentralisation and security as core principles for Bitcoin trading. The protocol recently agreed a $9M investment from a consortium of partners to support its development and growth. The token SOV will begin trading first on the Sovryn platform before appearing on other exchanges. Project leaders expect strategic partners to help adopt and integrate software with the Sovryn protocol and extend DeFi benefits to traditional finance. Sovryn launched a lending and derivatives market on the RSK Bitcoin sidechain, positioning itself as a decentralized platform for trading and lending bitcoin. The project went live with $2.1 million in backing, a symbolic amount representing Bitcoin’s total supply. Greenfield One led the funding round, with contributions from Collider Ventures and Monday Capital. Sovryn deployed on RSK to leverage its smart contract layer and merge-mining security, which the team says lets it offer comparable or better functionality than centralized services. The project plans to launch a governance token modeled on Compound Finance’s approach, with an SOV token sale targeted for Q1 2020. Sovryn is the second DeFi platform on RSK following Money on Chain, and its launch is presented as part of a broader push to bring Ethereum-style DeFi products to Bitcoin via sidechains.

Participated · Equity · Apr 2021

Zignaly provides a social investment platform that lowers the barrier to entry for investors seeking exposure to digital assets by enabling vetted expert traders and fund managers to manage portfolios on behalf of members. The platform supports multi-chain, multi-exchange operations and a native ZIG token, with sales and IDOs across Ethereum ERC20, BSC, Polygon, Solana, Harmony, Avalanche and other blockchains. Zignaly serves the industry’s top traders and funds and offers profit-sharing arrangements so members can let experts handle trading while sharing in the profits. The company recently launched ZIGPAD, a launchpad-style incubator and investment network to facilitate fundraising and cross-chain IDOs for blockchain projects. To date, members have invested more than USD $120 million across the portfolios of more than 300 vetted traders and fund managers. Led by CEO Bartolome Bordallo and based in Singapore, Zignaly says it will use new capital to support global expansion. Zignaly operates a consumer-facing crypto social investment platform whose NFT-based, profit-sharing service allows professional digital-asset traders to manage other users’ investments through pooled accounts. Neither the company nor the traders charge upfront fees; profits are distributed automatically and are performance-based. The platform is integrated with major exchanges including Binance, with several other exchanges slated to go live soon. Zignaly has been generating revenue since 2018 and reports over 60,000 registered users who have traded more than $1.7 billion in volume. Led by CEO Bartolome Bordallo, the company intends to use the new funds for R&D, UX improvements and to continue growth of its insurance protocol.