Participated · Equity · Mar 2025

Axelar operates the Axelar Network, a decentralized blockchain interoperability platform and open stack that enables permissionless cross‑chain tooling through its Mobius Development Stack (MDS). The Axelar Foundation, a nonprofit supporting adoption of the network, disclosed strategic investments into the AXL token that exceeded $30M. The AXL token provides protocol‑level utility and is accumulated in reward pools to incentivize Verifiers as new blockchain connections scale interop demand. A portion of the new investments were purchases of unlocked AXL tokens from the Foundation’s ecosystem allocation; those tokens are now subject to lockups ranging from six to 12 months, while the exact amount sold was not disclosed. Axelar counts adopters including Uniswap, Microsoft and dozens of natively multichain startups with a combined total value locked (TVL) above $1 billion. The platform emphasizes an open, scalable, and secure cross‑chain layer for developers. Axelar is a decentralized network that connects users, assets and decentralized applications across multiple blockchains. Founded by the team behind Algorand, the company is building an interoperability stack and developer tools to enable cross-chain composability and liquidity. The phased mainnet launch began last month, and Axelar has started onboarding validators and wallet integrations. Planned product work includes a beta of Satellite, a dapp for transferring assets between chains such as Ethereum and Terra, and an SDK for developers to build on the Axelar network. Axelar already has live integrations with Polygon, Polkadot, Cosmos and Pangolin Exchange. Financially, the company recently raised $35 million in a Series B at a $1 billion valuation, following a $25 million Series A led by Polychain Capital last summer. Axelar operates a decentralized interoperability protocol suite, tools, and APIs designed to enable cross-chain communication and asset transfer. The Axelar Network is currently live in testnet and has early adopters including Polygon, Polkadot, Terra, Avalanche, Pangolin Exchange, and Keplr Wallet. The protocol aims to let developers build on any blockchain while leveraging global cross-chain liquidity and composability. Axelar says the latest funding will be used to grow the core team and support ecosystem development. Leadership emphasizes the goal of increasing liquidity and secure cross-chain asset transfer to expand user reach. The company positions itself as a universal framework for decentralized interoperability across blockchain networks. Axelar is a decentralized protocol that enables developers to build on any blockchain using global cross-chain liquidity and composability. Designed by the founding members of the Algorand blockchain, Axelar aims to provide interoperability across chains. The company raised $25 million in a Series A round led by Polychain Capital, with participation from Dragonfly Capital, Galaxy Digital, North Island Ventures, Robot Ventures, Collab+Currency, Cygni Capital, Lemniscap, Divergence Ventures and others. Proceeds will be used to support the network’s integrations and to add engineering resources. The network is currently in testnet with Polkadot, Terra and Avalanche. When live, Polkadot users will be able to move assets from external chains via the Moonbeam smart contract platform, and Avalanche users will be able to access assets on Bitcoin, Ethereum and other chains connected to Axelar. Axelar is a decentralized protocol designed by the founding members of the Algorand blockchain to enable cross-blockchain communication for decentralized applications. The protocol acts as a communications bridge connecting blockchain ecosystems that speak different languages, offering a universal protocol and API so developers can avoid rewriting dapps for each network. Axelar plans to use the seed funding to accelerate its roadmap and scale cross-chain communication, according to CEO Sergey Gorbunov. The company said the $3.75M seed will go toward developing the network's technology, tools and API solutions, and recruiting engineers to design underlying protocols. Investors in the round include Binance X (the investment arm and accelerator of Binance), San Francisco-based DCVC, Lemniscap, Divergence Ventures, Waikit Lau and Naval Ravikant. The fundraising gives Axelar early-stage capital to advance its cross-chain infrastructure and developer tooling.

Led · Seed · May 2023

FARE Protocol builds probability smart contracts that trigger on transparent on-chain events and use probability variables to determine outcomes. Its first use case is randomized minting and burning (described as “winning” and “losing”) of the FARE token, with the probability of losing or burning set higher than minting to create deflationary pressure. Rather than a centralized house capturing profits, the protocol is designed to pass value to FARE holders through token deflation. FARE plans to launch its ecosystem and native token on Ethereum layer‑2 Arbitrum later this year. The company raised $6.2 million in a seed round ahead of the token launch. Investors named in the round include Goat Capital (managed by Justin Kan), C Squared Ventures, 6th Man Ventures, Arrington Capital, Eniac Ventures, Spark Digital Capital, Morningstar Ventures, Quantstamp, DWeb3 and others.

Participated · Seed · Feb 2023

C3 operates a next-generation self-custodial digital asset exchange built to give traders flexible control over how their crypto is held. The platform supports a wide range of non-custodial wallets spanning multiple blockchains, while also permitting users to designate a preferred third-party custodian if desired. By removing centralized custody requirements, the company aims to blend the security advantages of decentralized finance with the liquidity and speed expected from traditional exchanges. Co-founded by Michel Dahdah, C3 is focused on scaling its infrastructure and widening its product reach following its latest capital infusion. Although the company has not released figures on revenue, trading volumes, or user counts, the fresh capital will fund operational expansion and business development efforts. The firm positions itself as a bridge between institutional-grade trading standards and the self-sovereignty ethos of crypto.