The Venture Codex

Participated · Series C · Sep 2025

Fnality International is building a global settlement network that uses distributed ledger technology (DLT) to connect established wholesale markets with emerging institutional tokenized assets. Its flagship offering, the Sterling Fnality Payment System (launched in the U.K. in December 2023), provides 24/7, central-bank-backed cash rails for real-time delivery-versus-payment of tokenized securities, payment-versus-payment foreign-exchange settlement, and on-demand repo transactions. Fnality’s platform leverages ‘earmarking’ to secure settlement while optimizing liquidity management across participants. The company works closely with central banks and major financial market infrastructures to ensure regulatory compliance and interoperability with innovations such as stablecoins and tokenized deposits. Near-term plans include extending the network to additional major currencies and enhancing liquidity tools to support a broader digital-asset ecosystem. By fusing decentralized finance operational efficiencies with traditional finance capital efficiency, Fnality aims to become a foundational pillar of the next-generation financial market infrastructure.

Participated · Equity · Jun 2025

Digital Asset builds and operates the Canton Network, a public, permissionless Layer 1 blockchain that provides protocol-level privacy and confidentiality guarantees and runs applications written in its open-source smart contract language, Daml. Canton is designed to enable tokenized asset workflows across multiple parties while keeping transaction data confidential, and it has attracted marquee institutional participants including Visa, Goldman Sachs, and DTCC. The network has processed or issued more than $6 trillion in tokenized assets according to prior reporting, and Visa became a Canton Super Validator and added Canton to a stablecoin settlement pilot. The Canton ecosystem has also seen activity such as a $540 million raise by Canton Strategic Holdings (formerly Tharimmune) to build a Canton Coin treasury and a project called Zenith completing atomic swaps between Canton and an EVM-compatible environment. On the financing front, Digital Asset raised $135 million in June 2025 and $50 million in December 2025, and is now pursuing a roughly $300 million round led by a16z crypto. The company is backed by trading firms and banks including DRW Holdings and Citadel Securities.

Participated · Equity · Mar 2024

BeatConnect offers a proprietary multiplayer Digital Audio Workstation (mDAW) that integrates various aspects of music production into a single platform to enable real-time collaboration. The platform can sync with third-party apps to create a standardized ecosystem for collaboration, learning, and monetization. BeatConnect plans a major relaunch slated for late spring that includes a gamified music-making experience built with the Unity game engine. The relaunch will overhaul the mDAW and add new functionalities aimed at increasing interactivity and engagement. Investors have backed the convergence of gaming and music in the product roadmap, and the company emphasizes intuitive UX to enhance the creative process. Founded in 2020, BeatConnect positions itself as a community-focused hub for immersive and collaborative music creation. BeatConnect provides a digital collaboration-based music platform that links multiple digital audio workstations (DAWs) so musicians and producers can play and edit together in real time from their home studios. Once installed the system requires no extra setup and supports cross-platform remote sharing sessions. The platform is designed to maximize creative interactions between individuals through simultaneous collaboration. Led by CEO Alexandre Turbide, the company targets multiple overlapping sectors of the creator economy. BeatConnect recently raised CA$3M (US$2.2M) and intends to use the funds to build its tool for those creator-economy sectors.