Participated · Seed · Nov 2024

Pharos is building an "asset-native" layer 1 blockchain intended to support tokenized real-world assets such as bonds, energy projects and private credit. The network emphasizes parallel processing and compliance features aimed at handling regulated financial activity at scale. Pharos targets a market it values at $50 trillion and cites growth in on-chain real-world assets, which it noted totalled $24.3 billion. The project reports millions of users and unique addresses on its testnet and has partnerships, including with energy firm GCL for solar-backed assets. Financially, Pharos recently raised $44 million in a Series A and previously raised $8 million in a seed round, and a prior investment from GCL New Energy placed a near-$1 billion valuation on the firm. The company expects to debut its mainnet in the near future.

Participated · Series A · Sep 2024

RD Technologies is a Hong Kong-based fintech group founded in 2020 that focuses on building compliant stablecoin infrastructure and bridging Web2 enterprises with Web3 financial systems. Its flagship project is HKDR, a 1:1 Hong Kong dollar stablecoin backed by high-quality, highly liquid assets held in segregated custody with licensed financial institutions and subject to regular independent attestation reports. The company deploys enterprise-grade infrastructure for digital currency transactions and asset tokenization while emphasising responsible, sustainable innovation and industry-wide collaboration. RD InnoTech, part of the group, was admitted to the Hong Kong Monetary Authority's stablecoin issuer sandbox in July 2024 and intends to launch HKDR subject to regulatory requirements. RD plans to accelerate regulated stablecoin infrastructure ahead of Hong Kong's new licensing regime and to explore compliant stablecoin applications in financial services. As part of those efforts it signed a strategic MOU with ZA Bank to explore reserve asset custody and potential distribution roles for its stablecoin. Financially, RD Technologies recently completed an approximately US$40 million Series A2 financing following a Series A1 round in September 2024. RD Technologies builds a compliant financial platform intended to bridge Web2 and Web3, deploying fintech to enable easier access to financial services and enhance trade efficiency. The company is developing HKDR, a 1:1 Hong Kong Dollar stablecoin with reserves held in segregated custody and regular independent attestations. In July 2024 RD InnoTech Limited, its stablecoin issuer subsidiary, was admitted to the Hong Kong Monetary Authority stablecoin issuer sandbox to test HKDR's operational plan. RD Wallet Technologies Limited, another subsidiary, holds a Hong Kong Stored Value Facility licence (SVF0016) and began operations at the end of 2023, offering multi-currency fiat accounts for businesses. RD Technologies emphasizes its ties to Web3 infrastructure partners and stakeholders to support product rollout and regulatory compliance. The company raised financing to continue building its platform and to contribute to the development of Hong Kong's Web3 ecosystem.

Participated · Seed · Aug 2024

WSPN is a Singapore-based provider of stablecoin infrastructure whose flagship product is the WUSD stablecoin, pegged 1:1 to the U.S. dollar. The company says WUSD aims to optimize secure and licensed digital payments for Web3 users. WSPN is led by CEO and Founder Raymond Yuan and positions itself as building a more secure and efficient payment solution for the global economy. The company raised $30M in a Seed funding round to support expansion. The round was led by Folius Ventures and Foresight Venture, with participation from Hash Global, Generative Ventures, RedPoint Capital, and a consortium of investment companies, exchanges and foundations. WSPN intends to use the funds to expand operations and its development efforts.

Participated · Series A · Jul 2024

Chainbase is a blockchain data network. The company provides infrastructure focused on blockchain data. It announced a $15M Series A round led by Tencent Investment Group and Matrix Partners China. Other investors included Folius Ventures, Hash Global, JSquare, Mask Network and Bodl Ventures. The company said the round was completed in the fourth quarter of last year and was structured using a mix of equity financing and token warrants. With this financing its total funding to date is $18M; the company declined to comment on valuation.

Participated · Seed · May 2024

BAC Games is a collection of casual Web3 games. Its first game, Blast Auto Clubs, has opened a group-to-earn mode. The company recently completed a $1.5 million seed round of financing. Named investors in the round include Hash Global, Matr1x, GateLabs, Stratified Capital, W Labs and Nothing Research, alongside individual backers such as Joseph A.C. Lloyd, Laobai, Piers Kicks, Saku, Victor and Ash. BAC Games plans to conduct an IDO at the end of May.