Participated · Equity · Jul 2024

Solv Protocol operates a bitcoin staking and structured-product platform designed to help institutions gain exposure to BTC through its Bitcoin Reserve Offering (BRO). The BRO blends features of traditional convertible bonds with crypto-native mechanics, letting investors hold a tokenized claim on bitcoin that Solv actively deploys into yield-generating strategies. Funds placed in the reserve are staked into liquid-staking tokens and allocated across decentralized finance (DeFi) protocols, real-world-asset pools and other institutional finance products, aiming to keep the reserve productive rather than idle. Inspired by MicroStrategy’s large BTC treasury, Solv positions BRO as an “on-chain MicroStrategy” model that removes the burden of direct bitcoin custody for institutional allocators. The company’s current plan is to grow this reserve to $100 million in BTC. With its recent $10 million raise, Solv begins seeding that target while demonstrating early institutional interest in its structure. No specific operating metrics such as revenue or user counts were disclosed in the article.

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.

Participated · Seed · Aug 2023

unshETH offers an omnichain ERC-20 token (unshETH Ether) representing a diversified liquid-staked ETH basket that collects Ethereum staking rewards and swap fees generated by the protocol's vdAMM. The protocol is designed to foster competition among liquid staking providers to promote validator decentralization and improve the ETH staking experience for many users. unshETH tokens are transferable across multiple chains (ETH Mainnet, BNB Chain, Arbitrum) via cross-chain infrastructure mentioned in the filing (Stargate and LayerZero), with plans to expand to additional chains. The team recently announced Project Sentience, an initiative to create a decentralized, open-source Liquid Staking Token (LST) framework and a Liquidity Bootstrapping Kit to share technology and improve decentralization across LSTs. The company completed a $3.3M seed funding round to accelerate development, expand protocol features, and prioritize security, transparency, and usability. The raise and roadmap emphasize building public goods and developer tooling to drive broader DeFi adoption of LSTs.

Participated · Equity · May 2023

LabDAO is focused on open-source drug discovery and is building an exchange to connect scientists with laboratory and computational services. The project launched PLEX, a client that lets scientists interact with the Lab exchange and run containerized, resource-intensive computational services. PLEX currently supports computational workflows only; physical laboratory services are planned for a future release. LabDAO enables outputs to be linked to NFTs so scientists can prove ownership of their data. The DAO governance structure is not yet fully in place; the team is prioritizing building utility and an active community before deploying the DAO and affiliated token. The project raised $3.6M in a funding round co-led by Inflection.xyz and Village Global.

Participated · Seed · Feb 2023

Gateway.fm is a decentralized blockchain infrastructure and node provider based in Stavanger, Norway, led by CEO Cuautemoc Weber. It builds distributed, multi-chain infrastructure and decentralized RPC solutions designed to help Web3 projects scale without allocating resources to configuring or maintaining servers or relying on centralized services like AWS. Its product suite includes Grow (institutional staking validators across PoS chains like Ethereum, Gnosis and IXO), Access (a dedicated, cost-effective RPC node service supporting ETH, Fantom, NEAR and Gnosis) and Jumpstart (which enables new blockchains, appchains and protocols to accelerate mainnet launch and drive user adoption). The company has received market validation from partners including 1inch, Gnosis, Ethereum Foundation, NEAR and Polygon Labs. Gateway.fm plans to use new funding to expedite product development and the provision of advanced staking services while driving user acquisition and recruitment. It intends to place particular emphasis on scaling its engineering department.