Participated · Series E · Jan 2022

Fireblocks provides a SaaS-like custody platform that lets financial institutions run their own secure wallets and custody across 25 blockchains while enabling peer-to-peer transactions between clients. Its customers include Bank of New York Mellon, BlockFi and eToro, and the company also offers strategic consulting and DeFi custody integrations such as Aave Arc. Fireblocks scaled rapidly in 2021, growing its client base from 100 to 800, doubling assets secured on its platform to $2 trillion, and growing revenue roughly 600% to a year-end figure between $50 million and $100 million. About 200 of its 800 clients use its DeFi extensions, and DeFi accounted for roughly 10% of its transaction volume in the past month. The company plans to use new proceeds to double its 300-person team by the end of 2022 with hiring focused on engineers and customer success, and to expand into regions including Southeast Asia, Eastern Europe and Africa as regulations permit. Fireblocks was founded in 2018 and positions itself as a broad digital-asset infrastructure provider differentiated by security, multi-chain support and a customer network for inter-client transactions. Fireblocks provides an all-in-one platform that lets financial institutions store, transfer, issue and tokenize digital assets, including custody services secured with multiparty computation. The company’s platform supports issuance of asset-backed tokens and can be white‑labeled so banks and businesses can implement direct custody without third parties. Fireblocks says it has secured the transfer of over $1 trillion in digital assets and serves over 500 financial institutions, up from about 150 in January. Its ARR grew roughly 350% year-to-date in 2021 versus 2020 and the company expects to end the year up 500%; total capital raised since its 2018 inception is $489M. Fireblocks operates offices across the UK, Israel, Hong Kong, Singapore, France and the DACH region and counts customers including Revolut, BlockFi, Celsius, Galaxy Digital and crypto.com. The company plans to use new funding to expand engineering and customer-success teams and to grow geographically in the Asia‑Pacific region while remaining independent. Fireblocks provides institutional crypto infrastructure including custody, transfers, token issuance, staking and DeFi integrations. The company does not have a consumer-facing product and sells to banks, fintechs and other financial institutions seeking crypto custody and balance-sheet diversification. It uses multi-party computation to manage private keys, generating cryptographic secrets on both client devices and servers to avoid a single point of failure. Fireblocks stores $400 billion in cryptocurrencies and has built a network of liquidity partners with direct connections to 30 exchanges to support OTC desks and market makers. The platform also supports token issuance across multiple blockchains, staking via partners such as Staked and Blockdaemon, a DeFi API, and AML integrations with Elliptic and Chainalysis. Financially, Fireblocks has raised $179 million to date and says it has not yet reached a valuation of $1 billion. Fireblocks provides infrastructure that enables enterprises and institutions to adopt, move and manage digital assets and cryptocurrencies. Since launching in June 2019, the company has facilitated the transfer of over $150 billion in digital assets for customers including Revolut, Celsius, BlockFi, PrimeTrust, Genesis and Nexo. CEO Michael Shaulov said Fireblocks saw a 533% increase in customer growth in Q3. The company was founded in Tel Aviv and is headquartered in New York City, and has opened offices in Germany, the UK, Singapore and Hong Kong. The new capital will be used to grow the team and expand into other fintech products. Over the next year Fireblocks plans to explore innovations in digital payments, banking, transactions and the security of the digital-asset ecosystem. Fireblocks is an enterprise-grade platform that secures digital assets in transit for financial institutions. It streamlines digital asset trading operations without sacrificing security, using patent-pending chip isolation security and MPC technology. The platform can securely transfer assets across exchanges, wallets, custodians, and counterparties while keeping them readily available. Customers include large institutional digital asset trading operators such as Galaxy Digital and Genesis Global Trading. Fireblocks is integrated with 15 digital asset exchanges and supports over 180 cryptocurrencies, tokens, and stablecoins. The company launched out of stealth with a $16M Series A financing.

Led · Equity · Jul 2021

MiRus is developing the investigational SIEGEL balloon-expandable TAVR system, designed with a proprietary nitric oxide–coated rhenium alloy to provide a nickel-free valve construct. The SIEGEL valve features an open-cell frame intended to eliminate foreshortening for more precise placement, dry porcine tissue leaflets, and can be delivered through an 8 French expandable sheath across 23 mm, 26 mm, and 29 mm sizes. The device remains investigational and has not been approved for commercial distribution; MiRus has presented early feasibility data and recently launched the STAR pivotal trial enrolling up to 1,025 patients at varying surgical risk levels. The company is working with an Atlanta-based team and reported enthusiastic investigator feedback on delivery and hemodynamics. Financially, MiRus secured a $1.5 billion strategic investment from Boston Scientific that conveys a ~34% stake and includes options and milestone-linked payments that could total several billion dollars tied to clinical, regulatory, and sales milestones.