Wintermute
41 Lothbury, London, EC2R 7HF, United Kingdom
Overview
Wintermute is a leading global algorithmic trading firm and one of the largest players in digital asset markets. With an average daily trading volume of over $5bn, Wintermute facilitates OTC trading of 350+ tokens and provides liquidity across 80+ centralized and decentralized exchanges. Wintermute is an active player in the ecosystem, and invests in early stage DeFi projects, provides liquidity provisioning services for high profile blockchain projects, and overall supports builders of decentralized finance.
- Total investments
- 33
- Lead investments
- 0
- Investments · 12mo
- 3
- Active investors
- 2
Sector focus
- Blockchain
- Cryptocurrency
- Financial Services
Investment portfolio
- Silicon Data
Participated · Series A · Aug 2026
Silicon Data provides pricing indices, performance benchmarks, forward curves and market intelligence for the AI compute economy, aimed at buyers, sellers, exchanges and financial institutions. It has built a portfolio of nine financial-grade indices covering GPUs and LLMs and offers alternative datasets that track supply, demand, utilization, pricing and economics across compute. The company has over 1,000 registered users and counts semiconductor manufacturers, AI model builders and financial institutions among its daily users. SiliconMark, a product funded by the Series A, benchmarks real-world GPU cluster performance to normalize output differences driven by networking, topology and configuration. Silicon Data spent two years building the pricing and performance history needed to support a futures market and is positioned to be the reference layer for cash-settled GPU futures being planned by CME Group. Financially, the company raised a $4.7 million seed in March 2025 and completed a $30.5 million Series A initial closing to fund its next phase of product and market expansion.
- Aura Finance
Participated · Seed · Jan 2026
Aura Finance operates a decentralized real-world asset (RWA) infrastructure protocol that tokenizes U.S. Treasuries and offers users risk-free yields in a familiar on-chain savings-account format. The platform employs a proprietary “bankruptcy-remote” architecture that isolates underlying assets via trust-based SPV structures, mirroring traditional finance protections. Aura positions itself as a compliance-first solution and is actively pursuing licensing across Asia-Pacific and other major financial jurisdictions. Its roadmap includes building multi-chain settlement rails to lower gas costs and improve user experience, as well as broadening distribution of tokenized Treasury products to non-crypto-native audiences. Backing from market-makers like Wintermute gives Aura institutional-grade liquidity from launch, while strategic investors such as Coinbase Ventures and a16z crypto facilitate deeper integrations across the Web3 ecosystem. The company intends to leverage its fresh capital to accelerate technology development, compliance expansion, and market growth initiatives.
- Pave Bank
Participated · Series A · Oct 2025
Founded in 2023 by fintech veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank delivers both traditional and programmable banking rails through APIs and smart-contract infrastructure. Its platform enables businesses to automate payments, transfers, and treasury functions while seamlessly handling fiat and digital-asset transactions. Headquartered in Singapore with a Georgian banking licence and a London office, the company positions itself at the intersection of regulated banking and blockchain technology. Management intends to expand operations into the United Arab Emirates, Hong Kong, and the European Economic Area to reach a wider enterprise customer base. Since launch, Pave Bank has secured roughly $45 million in total funding, underscoring investor confidence in its vision of programmable finance. The fresh capital will be deployed to deepen product development, obtain additional regulatory approvals, and scale geographic coverage.
- Dfns
Participated · Series A · Jan 2025
Dfns builds multichain wallet-as-a-service infrastructure with a focus on bank‑grade security and direct integrations for institutional users. Two years ago the company moved up‑market to prioritize institutional clients and has since emphasized certifications, regulatory licenses, robust insurance, independent audits, and partnerships. Its client roster includes Fidelity, Bridge (Stripe), Zodia Custody (Standard Chartered), Tungsten Custody (ADQ) and 130+ fintechs worldwide. Dfns plans to accelerate distribution of its wallet infrastructure in 2025, targeting banks, payment services, trading platforms, investment apps, tokenization projects, government and corporate treasuries, and fund administrators. The company intends to expand adoption across the EU, UK, UAE and US while prioritizing sustainable growth over aggressive headcount expansion. Management plans to grow headcount from 25 to 35 employees by year-end contingent on targets and market stability. Dfns is a Parisian, Techstars-backed developer of a custodial wallet-as-a-service (WaaS) protocol that enables keyless wallets and decentralised custody. The product exposes an API designed to be deployed to custodial wallets in days and is already used by Scrypt, Polymath, and Swiss crypto bank Mt Pelerin. Dfns says it leverages MPC, ZKP-based cryptography and modern networking to merge the trustless, privacy-preserving ethos of non-custodial setups with the UX and comfort of trusted custody. The company primarily targets fintechs, banks and e-commerce platforms and plans a self-service API to broaden developer usage across video games, neobanks, music apps, trading and lending platforms. It will use the new capital to roll out keyless wallets across DeFi applications, beef up cryptography R&D programmes, and expand its staff. Since December 2020 the startup has raised approximately €13.5 million in total.
- Notabene
Participated · Series B · Nov 2024
Notabene runs what it describes as the largest open network for regulated on-chain transactions, combining Travel Rule compliance with pre-transaction verification and authorization capabilities. Its B2B product, Notabene Flow, extends the network into stablecoin payment use cases such as pull payments, recurring payments, and automated invoicing. The network spans more than 2,300 connected institutions across 100+ jurisdictions, serves 280+ customers including tier-1 banks, custodians, fintechs, and exchanges, and has facilitated over $2 trillion in annualized transaction volume. Notabene is partnering with Ripple to integrate RLUSD and accelerate enterprise adoption of compliant stablecoin payments. The company plans to use strategic partnerships and Ripple's enterprise ecosystem to scale Notabene Flow and onboard additional institutions. Notabene was founded in 2020 and is headquartered in New York.