Participated · Seed · Oct 2024

Magma is a decentralized liquid staking protocol built on the Monad Network that will issue gMONAD as its liquid staking token. The protocol is designing MEV infrastructure to maximize extractable value during block production on Monad. Magma plans to enable users to stake Monad tokens, retain liquidity via gMONAD, and earn staking and restaking rewards through an integration with Ether.fi. The team has established partnerships with a broad set of validators and DeFi primitives to support its launch and security posture. With a $3.9M seed raise, the company intends to further develop its liquid staking platform and MEV architecture. Founders David Mass and Meir Bank bring prior experience from Citibank and AngelDAO and say the project will launch on testnet before moving to mainnet, alongside a community points program.

Participated · Seed · Jul 2024

ZKEX is a multi-chain decentralized exchange focused on cross-chain trading. The company completed a $2.5 million seed financing. The funds will support launching a fiat on‑ramp service and a mobile application in the next quarter. Participating investors named in the article include Fenbushi Capital, KXVC, RockTree Capital, NGC Ventures, L2 Iterative Ventures, Crypto.com Capital, IDG Blockchain, Whale Ground, Moonhill Capital, Blocklabs Capital, Optic Capital, Hyperithm Group and G20 Group. No operating metrics or past rounds are disclosed in the article. The capital is intended to accelerate product development and upcoming rollouts.

Led · Equity · Jun 2024

Covalent develops blockchain data infrastructure that lets users and developers access historical blockchain data in an "Ethereum Wayback Machine." The firm focuses on delivering long-term data availability for blockchain applications. It said it will use the new financing to expand operations in Asia and to bolster adoption in markets such as China and Singapore. Covalent has raised funds via token sales, totaling over $20 million, and its native CQT token traded at $0.17 with a market capitalization of $123.1 million at the time of reporting. In March 2021 the company raised $2 million in a strategic round led by Hashed Ventures with support from Coinbase Ventures, Binance Labs and Delphi Ventures. Arthur Hayes joined Covalent as an advisor and received CQT tokens as compensation.

Participated · Seed · Mar 2024

BEVM is a decentralized EVM-compatible Bitcoin Layer-2 project based on the Taproot Consensus. It uses BTC as gas and enables all dApps that run on Ethereum to operate on Bitcoin L2s. The project plans to expand the Bitcoin Layer-2 ecosystem via a BEVM-Stack "layer-2-as-a-service" to let developers launch applications with one click. BEVM also intends to build a Decentralized Bitcoin Foreign Exchange (DBFX) protocol to bridge native BTC into DeFi protocols. The team raised $10 million in a seed and partial Series A funding round, and its post-investment valuation is estimated at $200 million. More than 20 institutions participated and the funding will be used to expand activities and further decentralize the Bitcoin ecosystem.

Participated · Equity · Oct 2023

MUA DAO operates a Web3 creator community and has launched the universal asset multichain protocol MUA-7648. The project is running a MUA7648 x Mantle BigFun NFT-Fi joint airdrop with prize pools of MUA and MNT totaling more than $500,000. Users can earn MUA by interacting with the MUA-7648 protocol in the Cantina market, holding various MUA and partner assets, and inviting friends; 45% of MUA is allocated for community incentives. The event is supported by nearly 30 top BTC and ETH NFTs, inscription projects, and the Mantle Ecological Foundation. MUA DAO previously received US$5 million in financing from Avalanche, ByteTrade, Rocktree Capital and Wu Jihan. In early May the team launched the second phase of an official Alipay+ D-store with Alibaba Cloud to promote Web2–Web3 commercial integration in the Southeast Asian market.