Participated · Seed · Dec 2025

Pheasant Network, developed by PG Labs, integrates artificial intelligence with intent-based execution to simplify and optimize decentralized finance (DeFAI) activity across multiple blockchains. Its Optimistic Interoperability mechanism has already processed more than $200 million in cross-chain transaction volume while delivering some of the market’s fastest speeds and lowest fees. The platform currently connects Ethereum with over 30 Layer-2 ecosystems, letting users state desired outcomes while the system determines the most efficient route. With fresh capital, the team plans to expand the utility of its PNT token, roll out AI-assisted routing and automated yield flows, and add support for multi-stablecoin and real-world-asset use cases. The roadmap also features a utility-focused Pheasant NFT series, one-click cross-chain actions, and adoption of emerging intent standards such as ERC-7683. A newly launched Pheasant Points loyalty program will visualize user contributions and engagement. Backed by foundations such as Ethereum, Optimism, and Polygon, the project aims to deliver a unified, AI-driven user experience for DeFi participants.

Participated · Seed · Dec 2025

PG Labs (株式会社PGL) positions itself as a "Public Goods" Web3 studio dedicated to "putting every asset on-chain." The company offers end-to-end planning, development, global marketing, and treasury support for Web3 projects built on Ethereum and its Layer-2 ecosystem. A core in-house product is Pheasant Network, an interoperability protocol that connects Ethereum with more than 30 Layer-2 networks and has already processed over ¥30 billion in cross-chain transactions using its proprietary “Optimistic Interoperability” design. PG Labs has received multiple grants from the Ethereum Foundation, Optimism Foundation, Polygon Labs, and other Layer-2 projects, validating its technical contributions to public-goods infrastructure. With fresh seed funding, the company will double down on Pheasant Network development, expand research on Ethereum and Layer-2 technologies, and scale its enterprise support services in Japan. Approximately half of its newly raised capital is held in ETH and USDC, and part of the idle treasury will be actively managed to reinforce its financial base.

Participated · Equity · Oct 2025

Orochi Network is a Vietnam-based blockchain infrastructure company focused on supplying audit-grade, zero-knowledge-proof (ZKP) technology that lets institutions cryptographically verify data integrity while preserving privacy. Its flagship product, zkDatabase, has already processed more than 700 million proof records, logged over 10,000 downloads and attracted 120+ enterprise partners such as Plume, Lumia, Nexus and OG. By acting as a ‘truth layer’ for real-world-asset (RWA) projects, the platform helps organisations meet emerging regulatory requirements like Europe’s DORA mandate that comes into force in 2025. The firm actively collaborates with policymakers on RWA sandbox frameworks and recently hosted the Super Vietnam conference to advance blockchain and AI adoption among regional banks and regulators. With the fresh capital, Orochi intends to scale zkDatabase and its broader zkDA Layer globally, deepening ties with both public- and private-sector partners. Including the latest raise, the company has amassed $20 million in total funding to date, positioning it to lead the integration of ZKP-based compliance infrastructure worldwide.

Participated · Seed · Dec 2023

Shadow is a data workflow platform that aims to lower the cost and complexity of developing on Ethereum by using private execution environments called shadow forks. Shadow forks are offchain read-only execution environments that mirror the state of a public blockchain in real time and are optimized for data access. The platform provides hosted tools and infrastructure to spin up shadow forks, add custom event logs and view functions, access shadow fork data via standard RPC methods, view a real-time feed of shadow events, and backfill or export historical transactions. Shadow enables teams to log anything on any smart contract gaslessly, which the company says unlocks deeper data coverage, cheaper smart contracts, and faster product iteration for builders in crypto. The company also manages nodes for both the shadow fork and the public chain, keeps state in sync (including re-orgs), compiles and deploys contracts on shadow forks, offers proxy patterns for factory-created contracts, provides RPC endpoints, and exports decoded and indexed event data. Shadow was founded by siblings Alvin and Emily Hsia, who previously held technical roles at Airbnb, and has announced a $9 million seed round led by Paradigm.

Participated · Equity · Nov 2022

Reown focuses on improving onchain user experience through its core products: Reown AppKit (embedded wallets, smart accounts, fee sponsorships, swaps, on-ramps) and Reown WalletKit (toolkit for wallet UX). AppKit has become multichain with recent support for Solana and Bitcoin and plans to expand to more blockchains; WalletKit is used by over 600 wallets and emphasizes chain abstraction and gas abstraction. The company has launched features such as Smart Sessions to enable subscription payments in crypto and reports integrations with partners including Stripe and Raise, plus use by apps like Jupiter, Drift, and Marinade. The WalletConnect Network, developed and launched in 2018 by Reown, has surpassed over 220 million connections and more than 35 million unique active wallets, facilitating over 20 million monthly connections for more than 5 million monthly users. Reown is also participating in decentralizing the WalletConnect Network and has introduced the WalletConnect Token (WCT) for fees, rewards, staking, and governance. The company will use new capital to further develop its onchain UX platform through its SDKs, continuing to target the overlap of traditional finance, fintech, and decentralized finance. WalletConnect is a web3 communications protocol that establishes end-to-end encrypted connections between wallets and applications, enabling transaction signing and token authentication. Its suite of multi-chain communications APIs and protocol integrations aim to enable interoperability across blockchains and simplify access to web3 from a single app. The protocol has been integrated by more than 210 consumer and institutional wallets and by over 450 apps, and is used by users in 157 countries. WalletConnect recently released an enhanced protocol with multi-chain support and is expanding its product suite with new communications APIs. The company is focused on decentralizing its infrastructure through the planned WalletConnect Network and forging strategic partnerships to support that buildout. Financially, it completed a $12.5 million ecosystem round following a Series A earlier this year co-led by Union Square Ventures and 1kx.