Led · Equity · Aug 2025

Hemi offers a programmability layer for Bitcoin via the Hemi Virtual Machine (hVM), a full Bitcoin node embedded inside an Ethereum Virtual Machine that enables DeFi, restaking, and cross-chain composability. The protocol positions itself as a supernetwork that fuses Bitcoin's security with Ethereum-style developer flexibility and supports cross-chain 'Tunnels' for interoperability. Hemi is preparing for a token generation event (TGE) and has recently unveiled $HEMI tokenomics to support that launch. The company reports over $1.2 billion in total value locked on its network, more than 100,000 verified users, and a community exceeding 400,000 members. Hemi is backed by a network of over 70 ecosystem partners, including Sushi, LayerZero, MetaMask, and Redstone, and is led by co-founders Jeff Garzik, Maxwell Sanchez, and Matthew Roszak. The recent funding will be used to accelerate ecosystem growth and further enable Bitcoin-based decentralized finance. Hemi Labs is developing the Hemi Network, a modular blockchain powered by Bitcoin and Ethereum that aims to unlock new programmability and cross-chain capabilities. Core components include the Hemi Virtual Machine (hVM) that embeds a full Bitcoin node within an EVM, the Hemi Bitcoin Kit (hBK) to enable Bitcoin-native smart contract access, Proof-of-Proof (PoP) consensus for Bitcoin-derived security, and Tunnels for trustless cross-chain portability. The platform also emphasizes asset programmability features such as on-chain routing, time-locks, password protection, and gasless transfers. Hemi’s incentivized testnet is live and the team is targeting a mainnet launch in Q4 2024. The company announced a $15 million investment round to develop and launch the network. Founders named in the release are Jeff Garzik and Max Sanchez; the announcement was issued from Chicago.

Participated · Equity · Sep 2024

Hemi is a modular blockchain network built on Bitcoin and Ethereum designed to deliver superior scaling, security, and interoperability. Its core product offerings include the Hemi Virtual Machine (hVM), which integrates a full Bitcoin node within an EVM to let developers build smart contracts that work with both chains while remaining backwards-compatible with existing EVM dApps and wallets. The Hemi Bitcoin Kit (hBK) unlocks direct smart-contract access to granular Bitcoin state, enabling Bitcoin-native applications such as staking, lending markets, and MEV marketplaces. Other foundational features include Superfinality (a Proof-of-Proof consensus inheriting Bitcoin’s security), trustless cross-chain Tunnels for secure asset portability, and on-chain asset programmability (time-locks, routing, password protection, and gasless transfers). Hemi’s incentivized testnet is live and the team targets a mainnet launch in Q4 2024; the company announced a $15 million founding investment round to support development and launch. Hemi Labs was co-founded by early Bitcoin developer Jeff Garzik and blockchain security pioneer Max Sanchez and announced the round from Chicago.

Participated · Equity · Jul 2023

Passage provides a platform for creating and connecting 3D virtual worlds and experiences, transforming static pages into immersive, interactive places. The platform is built with Cosmos and leverages technologies like Unreal Engine 5; it is blockchain-agnostic and supports in-browser streaming, cross-world commerce for fungible tokens and NFTs, decentralized social functionality, and 3D communication infrastructure. Passage supports a native token, PASG, designed for governance and decentralized 3D assets and to incentivize open-source development and creator contributions. PASG is backed by a SaaS-style revenue model, with up to 50% of profits directed to network security via staking incentives. Led by founder and Chief Creative Officer Lex Avellino, the company plans to use new funding to further develop its world-building tools, build out a social dashboard and enterprise solution, and add tooling for open-source contributions and technology partnerships like Sortium. Passage is based in Road Town, British Virgin Islands.

Participated · Seed · Aug 2021

Krystal is a multi-chain platform that lets users access a range of decentralized finance services across multiple blockchains. Initially incubated at Kyber Network and led by CEO Sunny Jain, the platform integrates DEXs such as KyberDMM, Uniswap (V2 & V3), SushiSwap, PancakeSwap (V1 & V2) and QuickSwap to provide trading access to over 40,000 tokens. It also supports earning via Aave (V1 & V2), Compound and Venus, and offers portfolio management, market insights and a referral program. Krystal currently supports Ethereum, Binance Smart Chain and Polygon and serves thousands of users. The company plans to expand quickly to additional networks including Solana, Polkadot and Cronos and to add NFTs. Following a $6.6M seed raise, Krystal will use the funds to grow the team, accelerate the product roadmap and improve access to passive income through staking, liquidity pools and yield farming.

Led · Equity · Apr 2021

Fantom is a high-performance, scalable, and secure smart-contract platform designed to overcome limitations of previous-generation blockchains. It uses an aBFT consensus called Lachesis that enables low time-to-finality (around 1 second), EVM compatibility, and cross-chain interoperability so developers can port Ethereum-based apps quickly. Transactions on Fantom complete within about 1 second and cost only a fraction of a cent. The project is fully permissionless, decentralized, open-source, and its code is available on GitHub, with the foundation emphasizing transparency. A recent platform update, Go-Opera, improved time-to-finality, tripled P2P synchronization speed, and made node synchronization more efficient. Fantom positions itself for a wide range of use cases—payments, secure storage of sensitive records, supply-chain tracking—and says it will continue developing to remain fast, transparent, and secure. FANTOM is a DAG-based smart contract platform that aims to deliver near-instant, low-cost cryptocurrency transactions by dramatically increasing throughput. The project claims its protocol can process up to 300,000 transactions per second, far above many existing blockchains and traditional payment networks. FANTOM emphasizes decentralization and intends to enable everyday cryptocurrency use across consumers and businesses. The team is pursuing strategic partnerships and deployments across sectors including e-commerce, IoT, food tech, telecom, banking and financial services, insurance, electricity, and real estate. Major strategic partners named in the announcement include the Korea Food-Tech Association, Oracle, and SBCK (a SoftBank Korea subsidiary). To fund development, FANTOM raised $40 million from a group of strategic partners and investors.