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The Venture Codex

Frax

WILLOW HOUSE, 171 ELGIN AVENUE, FLOOR 2, Grand Cayman, KY1-1103, Cayman Islands

Overview

Stablecoin protocol issuing multiple stablecoins.

Founded

2019

Deals · 12mo

1

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

—

Sector focus

Analytics
Blockchain
Cryptocurrency
Finance
...

Investment portfolio

2rounds
NAMEDATESIZE
DeFi United
Apr 2026Participated
$160 MOther Equity
Anzen
May 2024Participated
$4 MSeed
DeFi United
Apr 2026Participated
$160 MOther Equity
Anzen
May 2024Participated
$4 MSeed
2
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Frax: 2 funding rounds are recorded in the selected participation categories.All available history.
Frax: 2 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed01
Other Equity01

Monthly Deal Activity

Frax: 2 deals are recorded across 30 months.All available history.
Frax: 2 deals are recorded across 30 months. All available history
MonthDeals
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '261
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Frax: Fintech is the largest displayed sector by deal count (2 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Frax: Fintech is the largest displayed sector by deal count (2 deals). All available history
SectorDeals
Fintech2
Crypto & Blockchain1

Deal Size Distribution

Frax: 2 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Frax: 2 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M0
$10M-$25M0
$25M-$50M0
$50M-$100M0
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Frax: United States has the largest recorded deal count among the displayed regions (1 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Frax: United States has the largest recorded deal count among the displayed regions (1 deals). All available history
RegionDeals
United States1
94105-58181
Frax: 17 co-investors are shown, with Aave Foundation sharing 1 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Frax: 17 co-investors are shown, with Aave Foundation sharing 1 recorded deals. All available history
Co-investorShared deals
Aave Foundation1
Arca1
Cherubic Ventures1
Circle Ventures1
Ethena1
Ether.Fi1
Golem Foundation1
Infinity Ventures1
Ink Foundation1
Kraynos Capital1
LayerZero Labs1
Lido1
M31 Capital1
Mantle1
Mechanism Capital1
Palm Drive Capital1
Tydro1

Investment Strategy

Frax: Led accounts for 0% and participating for 100% of round participation.All available history.
Frax: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating2100%
Frax: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Frax: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Andy Choi

Director of Asia

Drake Evans

Head of Lending & Core Engineering Lead

Jason Huan

Co-Founder

Jonathan Walch

Core Engineer

Michael Gruen

founder and CMO

Sam Kazemian

Founder

Travis Moore

Co-Founder and Chief Technology Officer