Participated · Seed · Sep 2025

Wildcat Labs develops the Wildcat lending protocol to enable undercollateralized, parameterizable loans onchain, targeting institutional borrowers like funds, market makers, and DAOs. The protocol does not underwrite loans itself; borrowers set reserve ratios, withdrawal cycles, and lender whitelists to create bespoke markets. Wildcat earns revenue via a 5% protocol fee on the APR offered by borrowers (e.g., a 10% offered APR costs the borrower 10.5%). Since its generalized V2 Ethereum mainnet release in February, the protocol has originated $368 million and currently handles $150 million in outstanding credit. The company is already profitable and currently operates with four employees and three contractors. Planned uses of new capital include deeper Ethereum integration, hiring four additional roles (two currently open), and building new market types and mechanisms to unlock high-quality yield opportunities.

Participated · Seed · Feb 2024

Superfluid is an Ethereum money-streaming protocol provider built on blockchain applications. The company provides automated recurring transactions and subscription payment processing services. Its core product is a funds-flow protocol that enables programmable transfers on Ethereum. Superfluid announced it completed a $5.1 million strategic financing. The round was led by Fabric Ventures, with participation from Multicoin Capital, Circle Ventures, Safe Foundation, The LAO, and Taavet+Sten. Superfluid is a blockchain-based platform that enables real-time, perpetual money streams for crypto-native settings and for subscriptions and salaries. The system lets users initiate a perpetual payment with one on-chain transaction, avoiding additional gas or transaction costs for the stream. Unlike state channels, Superfluid does not require locked assets or keeping the full balance of a stream in a wallet; users can top up balances as assets are streamed. The company expects the most-used assets to be stablecoins such as USDC. Multicoin Capital and others see streaming payments as foundational infrastructure to power a new generation of decentralized applications, DeFi projects, and DAOs. Superfluid announced a $9 million seed round led by Multicoin Capital.