Participated · Equity · Jun 2025

Blueprint Finance develops institutional on-chain finance infrastructure and is the core developer of Concrete, a modular full-stack vault platform. Concrete provides automated execution, accounting, risk controls, and quantitative strategy tooling to enable institutions, protocols, asset issuers, and allocators to build and operate vaults. Blueprint is expanding the Concrete ecosystem with new on-chain financial primitives such as AssetCX and concUSD. The company emphasizes bringing institutional controls—auditable accounting, operational permissions, scalable execution, and transparent risk controls—to on-chain capital allocation. Blueprint recently completed a strategic funding round to scale Concrete and to deepen partnerships across liquidity, custody, execution, and distribution. The company communicates its intent to position Concrete as the infrastructure layer for the next generation of on-chain asset management.

Participated · Equity · Aug 2024

Morpho Labs operates a decentralized lending and borrowing protocol that aggregates markets and allows users to create their own on-chain lending markets with bespoke risk parameters. The protocol had about $6.6 billion in assets locked and counts customers and integrators such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. Morpho was initially built on top of Aave before evolving into a distinct protocol that seeks to compete with incumbents by offering customizable markets and higher yields. The team includes cofounder Paul Frambot, who launched the project at age 20, alongside Merlin Egalite, Julien Thomas, and Mathis Gontier Delaunay. Morpho has experienced some security exposure tied to a broader exploit that affected Aave but has continued to grow adoption. The company has signaled plans to court traditional financial institutions as it further develops its protocol and market reach.

Participated · Equity · Aug 2024

Morpho is an editor of solutions for operators of regulated games in emerging countries. The company is listed in the Finance/Insurance category in the report. It raised €46M via a capital increase, reported in the French Tech weekly roundup. The round features a broad syndicate of crypto and venture investors including Ribbit Capital, a16z crypto, Coinbase Ventures, Variant and Pantera Capital among others. The article does not disclose operating metrics, past financing history, founding year, or location.

Participated · Seed · Dec 2022

NF3 operates NF3x, a multichain swaps and options-to-swap marketplace that enables users to create personalized trading opportunities in a controlled environment. The platform features NFT swapping, bartering, trait-wide offer packages, a built-in chat for contacting owners, and peer-to-peer financing options. Collectors can use the marketplace to upgrade collectibles by offering packages across traits or negotiating directly with owners. NF3x will launch first on the Ethereum blockchain, with support for Tezos, Polygon and Solana planned next on the roadmap. The platform intends to offer buyer financing including “Buy now, Pay later” to capture emerging Web3 opportunities. NF3 also announced ApeCoinStaking.io in partnership with Solidity.io to build an Apecoin staking platform for Bored Ape Yacht Club communities.

Participated · Series A · Nov 2022

Kiln is a French white-label staking technology provider that offers on-chain smart contracts, SDKs and APIs to enable one-click pooled staking integrations in non-custodial wallets. It also operates a large network of Ethereum validator nodes and is the largest operator by validators with just over 4% market share on Ethereum. Kiln programmatically manages staking through its smart contracts, collecting an automated commission on rewards, which ties its revenue growth to assets under management. The company currently manages 1,168,288 staked ETH, roughly $3 billion at current exchange rates, and has increased its stake under management fivefold over the past year. Kiln provides dedicated validator operations for partners and counts clients such as Ledger, Crypto.com and Coinbase for pooled staking services in their non-custodial wallets. The company plans product expansion and the establishment of an office in Singapore. Kiln has raised a total of $35 million since its inception. Kiln is a Paris-based, enterprise-grade staking technology platform provider offering infrastructure and tooling for staking across major proof-of-stake blockchains. Its product suite includes Kiln Connect (a single SDK to integrate staking, rewards data and custodians), Kiln On-Chain (smart contracts for ETH staking and automated rewards management), Kiln Dashboard (staking dashboard, administration, reporting and data export) and Kiln Validators (dedicated or shared validators with enterprise SLAs on multi-cloud Kubernetes). The company manages over $500 million of assets staked under management. Customers include Binance US, GSR and Ledger. Kiln plans to use the newly raised funds to expand its staking infrastructure product range. The business is co-founded by CEO Laszlo Szabo, CPO Ernest Oppetit and COO Thomas de Phuoc and targets institutional-grade staking customers.