Participated · Equity · Aug 2024

Level issues lvlUSD, a stablecoin designed to generate yield exclusively from decentralized on-chain protocols rather than centralized yield sources. lvlUSD is fully collateralized by fiat-backed stablecoins (USDC and USDT) supplied to blue-chip lending protocols like Aave and will begin earning yield on Morpho in the coming weeks. Since its beta launch in Q4 2024, lvlUSD's market capitalization has grown to over $80 million and protocol TVL to $96 million, with more than 10,000 institutional and retail users. The protocol is integrated with Pendle, Spectra and LayerZero and can be used as collateral on Morpho, supporting expanded utility and scale. Level emphasizes on-chain transparency, audited and open-sourced smart contracts, and reducing counterparty and operational risk relative to stablecoins that tokenize centralized yields. The team plans to accelerate integrations and scale sustainable, institutional-grade DeFi-native yield offerings. Peregrine Exploration is a New York City–based blockchain development and research company led by CEO David Lee. The firm is developing Level, the protocol behind Level USD (lvlUSD), a stablecoin backed by restaked dollar tokens. lvlUSD is designed to let users provide economic security with their dollar tokens and earn restaking yield without exposure to cryptocurrency price volatility. The company intends for lvlUSD to be used across DeFi as a novel stablecoin primitive. Peregrine contributes research and development to digital asset projects and is using new funding to advance its protocol work. The article reports a $3.6M funding round to support these efforts.

Participated · Equity · Dec 2021

Whalemap provides a blockchain analytics platform that uses data science to deliver real-time, actionable trading insights and API access. The company emphasizes educational content and accessibility, partnering with thought leaders such as Kouroush AK and Joseph Young. Founded in early 2020, Whalemap has grown to over 34,000 users and more than 1 million lifetime API requests. The team intends to expand its engineering headcount, with a particular focus on data science and blockchain engineering. Product development will be extended with mainstream adoption in mind, and the company planned a public sale slated for December 17, 2021. Leadership (founders Artem Lazarev and Andy Bohutsky) are positioning the product for broader retail and institutional engagement.

Led · Equity · Jul 2019

Amp Americas develops dairy RNG from on-farm biogas and was the first company to bring dairy RNG to market; it is the only producer that delivers dairy RNG to California fleets under the Low Carbon Fuel Standard. The company announced a $75 million investment to support continued investment in new dairy RNG projects. Amp plans to break ground on two additional midwestern dairy biogas projects later this year, with operations expected to begin in fall 2020. An unnamed infrastructure investor closed a new investment in Amp’s three flagship Indiana dairy RNG projects; Amp maintains an interest in those projects and will continue to operate and manage the facilities and market the RNG. Amp also launched an operating services business and expanded its RNG marketing and risk management business to offer operations and gas-marketing expertise to other RNG producers, fleets, and capital partners. Management says these moves will promote proliferation of RNG to improve air quality and reduce greenhouse gas emissions while growing the company’s commercial and operational footprint. AMP Americas produces clean, low-cost natural gas and 100% renewable natural gas for heavy-duty trucks. The company operates three business units: Renewable Dairy Fuels (an RNG biogas facility at Fair Oaks Farms in Indiana), ampCNG (a nationwide network of 20 public-access, ultra-fast fill CNG fueling stations), and ampRenew (RNG sourcing and risk management for partner stations and fleets). AMP provides both fuel supply and station operations for commercial trucking customers. Grant Zimmerman is CEO. The company intends to use the equity funding to pursue growth opportunities across its businesses. The article notes the company raised capital to support expansion but does not disclose revenues or user metrics.

Led · Equity · Oct 2016

Gazelle Transportation operates two core divisions: crude oil transportation and fluid management, which includes water hauling, waste hauling and portable storage tank rentals. The company supplies drivers with quality equipment and advanced technology to promote safety and maximize productivity. Gazelle is recognized for an industry-leading safety record and a culture focused on world-class, environmentally conscious service. It recently celebrated 24 years in business and serves a variety of customers throughout California. The company says it will use new capital to support growth while maintaining its emphasis on incident-free, customer-focused operations. Gazelle aims to expand operations and continue providing reliable, competitively priced midstream services.

Led · Equity · Jun 2016

H2O Midstream builds and operates water midstream assets — including gathering systems, transmission pipelines, treatment, storage, and disposal facilities — treating water as a commodity rather than a waste. The company is pursuing oil and gas opportunities related to water infrastructure throughout North America and partners with producers, traditional midstream companies, and oilfield service providers. H2O aims to lower oilfield water costs versus trucking by improving efficiency, reliability, and safety across the value chain. The firm announced an initial funding commitment of $100 million from EIV Capital with co-investments from EIV's institutional partners. Headquartered in Houston, the leadership team is composed of former midstream and upstream executives with decades of sector experience. Management highlights include CEO Jim Summers and a team claiming over 125 years of combined midstream experience and involvement in designing, building, or operating more than 10,000 miles of pipeline and related infrastructure.