• HEMI

  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.

• Bitlayer

  Participated · Seed · Mar 2024

  Founded in October 2023, Bitlayer Labs is building a Bitcoin Layer 2 network based on the Bitcoin Virtual Machine (BitVM) to expand application programmability and tap into Bitcoin security. The team launched mainnet V1 in early 2024 and released a trust-minimized BitVM Bridge in July. Bitlayer has released integrations with chains including Arbitrum, Base, Cardano, and Sui and plans to ship a V2 of its mainnet later this year. The project raised capital through both private and public rounds; the fresh capital will be used for operational expansion, team growth, and ecosystem development. As of this raise, Bitlayer's total funding stands at $29.91 million across private and public rounds. Bitlayer is positioned as the first Bitcoin Layer 2 based on Bitcoin finality, offering a native environment through technologies such as OpVM, Finality Bridge, and RtEVM. It has implemented OpVM, which combines fraud proofs (BitVM) and validity proofs (OP_CAT) to enable Bitcoin L1 verification of arbitrary computations. The project launched Mainnet‑V1 on April 15 and now hosts over 280 deployed DApps across infrastructure, wallets, DeFi, NFTs, gaming, metaverse, and RWAs. Bitlayer reports partnerships with more than 30 Web3 platforms including Hacken, AWS Cloud, Ankr, Polyhedra, Babylon, Particle Network, and Meson. The team is preparing the imminent launch of Bitlayer V2, a Bitcoin‑native rollup whose state transitions are protected by OpVM. The company has raised a total of $25 million to date, funds the team says will accelerate development, scalability, and user accessibility. Bitlayer Labs offers a Bitcoin Layer 2 solution based on the BitVM paradigm. Its core objective is to address the trade-off between security and Turing completeness in BTC Layer 2 through cryptographic innovations and blockchain protocol engineering. The company aims to become the computation layer for Bitcoin, introducing ultra-scalability while inheriting Bitcoin’s security. Bitlayer targets a high-throughput, low-cost transaction experience for users. It intends to use recent funding to expand growth and development efforts. The Series A brought the company’s total capital raised to $16M. Bitlayer is a Bitcoin Layer 2 infrastructure provider building Layer 2 infrastructure for Bitcoin. The company plans to launch its mainnet on April 5. It will introduce an ecosystem incentive program called Ready Player One. Bitlayer announced completion of a $5 million seed financing. The round was led by Framework Ventures and ABCDE Capital, with participation from StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital, Kenetic Capital, Pivot Global, Web3Port, Mindfulness Capital, C6E Capital, PAKA, Comma3 Capital, Kronos Ventures, dozens of institutions, and individual investors including Dan Held, Ryan Selkis, and Dan McArdle.

• System 9

  Led · 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).

• Blockfills

  Led · Series A · Jan 2022

  BlockFills offers back- and middle-office products, a trading platform (Phoenix) and SaaS solutions (Vision and Zephyr) to banks, brokerages, asset managers, corporations and other institutions. Its multi-asset technology platform provides price discovery, price aggregation, electronic order matching, smart order routing and trade reconciliation across spot, derivatives and lending markets. The company serves over 600 institutional clients and reports profitability since 2019, with 400% year-over-year top-line growth and nearly 500% year-over-year bottom-line growth. Spot trading volumes have surged over 20x on an average monthly basis since January 2020. BlockFills also offers bespoke derivatives, asset management solutions, mining-pool technology and financing for miners (miners have tapped approximately $150 million in capital since August 2020). The company plans to use recent funding to scale global expansion, expand support for digital banks and asset managers, broaden multi-currency and hedging solutions, and further develop bespoke derivatives and regulatory/reporting technologies for institutional clients.

• MathWallet

  Led · Series B · Dec 2020

  Math Global Foundation is the Singapore-based foundation that develops MathWallet, a multi-platform (mobile/desktop/hardware) universal crypto wallet. MathWallet supports token storage for 60+ chains including BTC, ETH, Polkadot, Filecoin, Solana and BinanceChain, offers cross-chain token exchange, a multi-chain dApp store and operates nodes for proof-of-stake chains. The wallet was one of the first to support Binance Smart Chain. The foundation intends to use new funding to accelerate product upgrades for MathWallet, expand resources, and build a broader DApp ecosystem. It also plans to seek broader global connectivity and work with Binance Smart Chain to expand into additional markets and bring more trading volume and users into the ecosystem. Math Global Foundation develops MathWallet, a multi-platform universal crypto wallet that enables storage and cross-chain exchanges of tokens across more than 50 public blockchains. The wallet supports major tokens such as BTC, ETH and Polkadot and is designed for cross-chain interoperability. The foundation is led by CEO Frank Fu and focuses on building decentralized ecosystems around MathWallet. The recent financing is intended to help expand integrations with networks such as Solana and Serum and to connect Math Global with other major blockchains. The company aims to improve cooperation on products and provide a friendlier user experience across its supported chains. The foundation is based in Singapore.

No current team members are available.