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The Venture Codex

L2IV

San Francisco, CA, United States

Overview

L2 Iterative Venture is a web3 arm of L2 capital management. It helps in development of blockchain infrastructure, private computing, and zero-knowledge proof applications.

Total investments
12
Lead investments
2
Investments · 12mo
1
Active investors
3
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Investment portfolio

  • Epoch Protocol

    Led · Equity · Sep 2025

    Epoch Protocol is building an intent-solver coordination layer designed to let users state their desired end outcome without needing to grapple with the technical details of different blockchains, gas fees, or execution paths. By abstracting these complexities, the protocol seeks to find the most efficient rates and routes to fulfill a user’s intent across multiple chains. The company plans to roll out a staged public testnet that will onboard developers, node operators, and solver contributors. Capital from the latest round will accelerate core engineering work and expand ecosystem partnerships to support this launch. Although specific revenue or user numbers have not been disclosed, the team has secured early backing from both institutional investors and prominent Web3 angels. The $1.2 million raise underscores growing interest in infrastructure that can make cross-chain activity more seamless and user-friendly.

  • OneBalance

    Participated · Series A · Jun 2025

    OneBalance builds the OneBalance Toolkit, powered by novel Resource Locks technology, to give developers and fintechs single integration access to any token on any blockchain. Resource Locks let transactions run in parallel, making cross-chain flows about 40% faster and more reliable than traditional stepwise approaches. The company targets improving UX for stablecoins and tokenized assets, aiming to enable simple one-click experiences across chains. Founding engineers include Stephane Gosselin and Daniel Worsley (core contributors to Flashbots) and Ankit Chiplunkar (ex-Coinbase smart contract engineer). The toolkit has already demonstrated instant native Bitcoin-to-EVM swaps, with Solana and other networks launching in the coming weeks. OneBalance recently raised $20M in new financing to accelerate product development and adoption.

  • Turtle Club

    Participated · Seed · May 2025

    Turtle has built a liquidity distribution protocol that curates opportunities, consolidates liquidity, and routes it to DeFi partners via a data-driven coordination layer. The platform currently serves an expanding network, linking more than 358,000 wallets and routing over $5.5 billion in liquidity. To date, the company has generated more than $6 million in revenue, illustrating the sustainability of its model compared with short-term incentive schemes. Led by CEO Essi Lagevardi, Turtle is now focusing on accelerating the rollout of its Earn infrastructure, enlarging its engineering team, and deepening multi-chain integrations. The recent capital injection lifts its total external funding to $11.7 million. These resources are intended to fuel further product development and ecosystem expansion across multiple blockchains.

  • Gaib

    Participated · Seed · Dec 2024

    GAIB provides an economic layer for AI compute, tokenizing enterprise-grade GPUs and their yields to create yield-bearing assets backed by real AI demand. Its platform aims to create a decentralized, liquid market for GPU financing and to enable DeFi use cases built on top, including GPU-backed stablecoins, lending and borrowing, options and futures, and structured products. The company intends to use the funds to expand R&D and operations, accelerate product iteration, and strengthen its infrastructure. GAIB is led by CEO and Founder Kony Kwong and is based in Singapore. The article does not report operating metrics such as revenue or user counts.

  • Fiamma

    Led · Seed · Dec 2024

    Fiamma develops Bitcoin and zero-knowledge (ZK) infrastructure, notably the Fiamma Bridge (a trust-minimized Bitcoin bridge) and Fiamma Layer (a ZK verification layer powered by BitVM2). The company says it has implemented the first efficient Bitcoin verifiers (Fflonk and Groth16) to enable optimized ZK verification on Bitcoin. Fiamma positions its technology to unlock programmable financial systems and real-world Bitcoin use cases such as stablecoins, payments, lending, DeFi, cross-chain interoperability and decentralized applications. The company plans to scale operations, accelerate product development, and drive adoption of its foundational technologies using the new funding. Fiamma is running a "The Mama Code" testnet campaign to invite users to engage with the Bridge and earn rewards. The article is datelined Singapore and emphasizes Fiamma's role in advancing BitVM2 implementations.

Team