Participated · Series B · Jan 2026

Talos offers a unified platform that connects institutional investors to exchanges, OTC desks, prime brokers, lenders and custodians for liquidity sourcing, price discovery, trading, settlement and portfolio management. Its software-as-a-service tools are engineered to meet institutional requirements for performance, safety and reliability across front-, middle- and back-office workflows. Over the past two years the company has roughly doubled both revenue and its client base annually, underscoring accelerating institutional adoption. Talos has widened its capabilities through the acquisitions of Coin Metrics, Cloudwall, Skolem and D3X Systems, adding data, risk management, DeFi infrastructure and portfolio engineering functionality. Looking ahead, the firm plans to broaden its product set from portfolio construction and risk management to treasury and settlement, and to support traditional asset classes as they migrate onto digital rails. Headquartered in New York, Talos positions itself as the foundational infrastructure layer for the next generation of financial markets.

Participated · Equity · Jun 2025

Digital Asset builds and operates the Canton Network, a public, permissionless Layer 1 blockchain that provides protocol-level privacy and confidentiality guarantees and runs applications written in its open-source smart contract language, Daml. Canton is designed to enable tokenized asset workflows across multiple parties while keeping transaction data confidential, and it has attracted marquee institutional participants including Visa, Goldman Sachs, and DTCC. The network has processed or issued more than $6 trillion in tokenized assets according to prior reporting, and Visa became a Canton Super Validator and added Canton to a stablecoin settlement pilot. The Canton ecosystem has also seen activity such as a $540 million raise by Canton Strategic Holdings (formerly Tharimmune) to build a Canton Coin treasury and a project called Zenith completing atomic swaps between Canton and an EVM-compatible environment. On the financing front, Digital Asset raised $135 million in June 2025 and $50 million in December 2025, and is now pursuing a roughly $300 million round led by a16z crypto. The company is backed by trading firms and banks including DRW Holdings and Citadel Securities.

Participated · Equity · Mar 2024

Kemet Trading is a derivatives trading platform provider supporting trading of digital-asset options, futures and perpetual contracts. The company aims to serve as a single institutional access point to the digital asset derivatives ecosystem. On March 22, 2024, Kemet Trading announced completion of a $5 million strategic investment. The round was led by Further Ventures and included participation from Deribit, QCP, Falcon X, Flow Traders and Hyperithm. The article describes the financing as a strategic investment but does not disclose valuation, use of proceeds, or operating metrics. Details beyond the investor list and the $5 million amount were not provided in the report.

Participated · Series A · Jul 2022

Thalex is a crypto-native derivatives exchange that offers stablecoin-settled options and futures. Its product includes linear BTC and ETH contracts with multi-collateral support (BTC, ETH, USDt and USDC) and portfolio-based margining for capital efficiency. Key platform features include 1 bps maker and taker fees, fee advantages for multi-leg options and futures strategies via RFQ, dedicated future-roll order books, RFQs for any-size multi-leg strategies, and a market-maker scheme with protection and strong connectivity. The exchange uses an efficient liquidation process with automated delta-hedging and liquidation auctions to limit market impact and enable orderly reduction of complex risks. The platform is available for public testing at www.thalex.com and is due to go live soon. Thalex intends to use the new funding to expand operations and business reach and is in the process of being authorised as a regulated DLT provider by the Gibraltar Financial Services Commission.

Participated · Equity · Dec 2021

Router Protocol is a modular cross-chain framework and bridge launched in 2022 on Polygon and BSC that enables interoperable applications across blockchain ecosystems. Its core product includes the Router Nitro cross-chain bridge, which uses a reverse-verification method to improve speed and gas efficiency. Since launch, Nitro has processed over $350 million in volume, handled more than 650,000 transactions, and attracted nearly 300,000 unique users within four months. Router Protocol said it closed an oversubscribed funding round that raised more than expected funds, though the company did not disclose the amount or instrument details. Proceeds from the raise will be deployed to build a fully operational Layer 1 blockchain called Router Chain, allowing the project to break away from the Binance and Polygon ecosystems. The team plans an Ecosystem Grant for projects building on Router Chain, and projects such as FolioX and StakeEase have already adopted Router’s cross-chain capabilities, according to CTO Shubham Singh. Router Protocol offers cross‑chain infrastructure that lets developers move liquidity across multiple blockchains and operates Dfyn, a decentralized exchange built on Polygon. The firm positions its tech as connectivity infrastructure to link proliferating layer‑1 and layer‑2 networks. Trading is currently the most popular use case on the platform, and the team expects broader cross‑chain use cases — borrowing, lending and cross‑chain governance — to grow. Router plans to deploy the new capital to scale product offerings and to invest in multiple security audits. The company was founded last year and is headquartered in Singapore. Financially, Router previously raised a $485,000 seed round last year and has now completed a strategic funding round.