Participated · Series B · Jan 2025

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.

Participated · Series A · Jan 2025

AlloyX builds payments infrastructure that bridges traditional banking with blockchain, enabling businesses to send and receive stablecoin payments and integrate crypto payments. Its platform facilitates currency exchanges and leverages institutional-grade custodial wallets, multi-chain security, and tokenization technology to allow businesses to tokenize real-world assets. The company holds licenses spanning virtual assets, payments, and trusts and serves institutional and retail clients in over 70 countries. AlloyX raised USD10M in a Pre-A funding round led by Solowin Holdings, with participation from Arbitrum Foundation, Offchain Labs, PMT Capital, Ming Capital, Fern Win Capital, Whitecove Capital and Kiln SAS. It intends to use the proceeds to expand operations across the UAE, ASEAN, and Africa to strengthen its position in high-growth regions. The firm offers enterprise-grade solutions aimed at enabling businesses to operate across diverse financial ecosystems. AlloyX operates a DeFi aggregation platform for tokenized credit, enabling protocols, DAOs and institutional investors to build diversified RWA investment strategies. Its core product is a liquid RWA vault and a blended investment vault that combines Credix Finance’s tokenized private credit with tokenized U.S. T‑bills. The team has integrated with nine credit protocols to date, including Credix Finance, Goldfinch and Centrifuge, and is building the industry’s first blended vault with Credix and a tokenized U.S. T‑Bills protocol. AlloyX reports $5 million in total value locked (TVL) and average yields above 18% since inception in 2021. The blended vault taps into more than $530 million in active on‑chain private credit loans and is scheduled to go live in early Q3 2023. The company plans to integrate with additional DeFi protocols and launch more investment vaults later in the year.