Participated · Series A · Jul 2022

Thalex is a crypto-native derivatives exchange that offers stablecoin-settled options and futures. Its product includes linear BTC and ETH contracts with multi-collateral support (BTC, ETH, USDt and USDC) and portfolio-based margining for capital efficiency. Key platform features include 1 bps maker and taker fees, fee advantages for multi-leg options and futures strategies via RFQ, dedicated future-roll order books, RFQs for any-size multi-leg strategies, and a market-maker scheme with protection and strong connectivity. The exchange uses an efficient liquidation process with automated delta-hedging and liquidation auctions to limit market impact and enable orderly reduction of complex risks. The platform is available for public testing at www.thalex.com and is due to go live soon. Thalex intends to use the new funding to expand operations and business reach and is in the process of being authorised as a regulated DLT provider by the Gibraltar Financial Services Commission.

Participated · Series C · Dec 2021

Figment builds and operates secure blockchain infrastructure that lets institutions, protocol teams, and developers stake tokens, run nodes, and access governance and analytics tools through a single platform. The company focuses on simplifying participation in proof-of-stake networks while maintaining high standards of security, reliability, and transparency. Its services include turnkey node operations, staking-as-a-service, and dashboards that surface on-chain data and governance insights. Figment generates revenue by charging fees on staking rewards and providing enterprise-grade infrastructure services. Although specific financial metrics were not disclosed, the firm has attracted institutional demand strong enough to secure new capital. The fresh funding will be used to expand operations and accelerate product development, enabling Figment to support more protocols and larger client volumes. By continually upgrading its infrastructure and tools, Figment aims to remain a foundational partner for institutions entering the staking and broader Web3 ecosystem.