Gradient Ventures has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists, who know how to take an idea to product-market-fit and beyond. Gradient Ventures is headquartered in the San Francisco Bay Area. For more information, visit www.gradient.com.

Gradient Ventures

Mouro Capital is a venture capital firm backing entrepreneurs who are shaping the future of financial services. With $400 million in assets under management and supported by Banco Santander, Mouro invests across the fintech value chain in early to growth stage start-ups across Europe, North America and Latin America.

Mouro Capital

StillMark

MS&AD Ventures is an early-stage venture fund focused on big data businesses related to the insurance industry. It specializes in the fields of venture capital, financial services, and finance. It was founded in 2018 and headquartered in Menlo Park, California.

MS&AD Ventures

We're a group of SoFi employees, alumni, and friends. We support early stage entrepreneurs that are transforming financial services.

Socially Financed

6th Man Ventures is an early stage crypto VC firm investing in web3 applications & infrastructure 6MV was born from a love of web3 in practice and principle, founded and run by a group who both see the potential and actively work to bring projects to life every day. That makes us incredible partners to have on your journey. 6th Man Ventures was established in March 2021 in New York, United States.

6th Man Ventures

HSCM Ventures is the venture capital arm of Hudson Structured Capital Management and is focused on investing in early and late staged companies in insurance and insurance technology.

HSCM Ventures

Common Metal

Meanwhile

Meanwhile's BTC whole life product is designed for anyone who plans to HODL BTC for the long term, is interested in intergenerational wealth creation and transfer, and loves tax-advantaged structures.  Meanwhile is the first long-term insurer anywhere to operate in a digital asset. It is an insurance company entirely denominated in BTC and regulated by the Bermuda Monetary Authority. It accepts premiums and pays claims in BTC and does its reserves and audited financials in BTC.  The initial product is a tax-efficient way to hold Bitcoin with guaranteed growth and return (in BTC terms), allows for liquidity through lending, and is easy to set up. A user pays in ten equal installments (or partially upfront through a premium deposit account) and then designates beneficiaries to receive a fixed payout upon death. As the policy accumulates in value, users can take out a tax-free policy loan.

Meanwhile offers a life insurance platform that accepts premiums and pays out claims in Bitcoin. Users can apply for BTC-denominated life insurance policies and receive each policy’s liquidity with tax-free, low-interest loans and tax-free partial withdrawals. Furthermore, the platform leverages AI for underwriting, claims, and operations. Meanwhile also planned to launch a suite of additional BTC-denominated products including private credit fund, term life insurance, and accidental death coverage.

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

Bermuda grants license to Meanwhile

Meanwhile offers a life insurance platform that accepts premiums and pays out claims in Bitcoin. Users can apply for BTC-denominated life insurance policies and receive each policy’s liquidity with tax-free, low-interest loans and tax-free partial withdrawals. Furthermore, the platform leverages AI for underwriting, claims, and operations. Meanwhile also planned to launch a suite of additional BTC-denominated products including private credit fund, term life insurance, and accidental death coverage.Funding and financialsIn June 2023, Meanwhile announced that it had <a href="https://sp-edge.com/updates/19146">raised USD 19 million</a> in financing across two seed rounds, with the first round being co-led by Sam Altman and Lachy Groom, and Gradient Ventures (Google) leading the second round. The company earmarked the funding to become licensed and regulated as a life insurance company by the Bermuda Monetary Authority, increase its employee base, and launch its first product.

MakerDAO is a DAO (governed through the MKR token) that manages the Maker Protocol.Developed on the Ethereum blockchain, the Maker Protocol allows users to place their funds (through cryptocurrency) as collateral in exchange for its stablecoin DAI, which is pegged to the USD. DAI can be used like any other cryptocurrency and even as savings since holders of DAI are entitled to a return based on the DAI Savings Rate (DSR). The DSR is determined by members of the DAO using a mix of public and proprietary market data.MakerDAO offers access to investing and borrowing DAI through the Oasis app which was developed by some of the creators of Maker Protocol. In addition, the Maker Protocol is available for developers of DeFi apps who can build apps to facilitate earning, investing, and borrowing DAI. As of May 2024, the Maker Protocol had integrated with over 400 applications ranging from payment systems to gaming platforms. MakerDAO generates revenue through stability fees (akin to interest payment on borrowed DAI) and liquidation fees which is an additional charge that occurs when the value of the submitted collateral falls below a set liquidation amount.In April 2022, MakerDAO announced that it was bridging to StarkNet, a reportedly cheaper and faster zero-knowledge (ZK) overlay chain built by StarkWare. Along with its expansion on Ethereum, the DAO had planned to move toward a multi-chain offering with this rebuild. It planned to roll out this offering in four phases, beginning with a simple bridge between the main blockchain and StarkNet’s Layer 2.In February 2023, the company <a href="https://sp-edge.com/updates/16269?industryIds=64">launched a new lending platform</a> named Spark Protocol, to enable users to borrow, lend, and stake DAI, the protocol’s stablecoin. The platform, which is a fork of Aave's version 3 (v3), will be built by Phoenix Labs, a research and development company formed by the DAO. Additionally, the company also announced the deployment of etherDAI, a liquid staking derivative for Ethereum that will be pegged to the value of ETH. Furthermore, in March, MakerDAO went on to<a href="https://sp-edge.com/updates/17322"> approve several new proposals </a>that make changes to both its governance structure and the investment of its treasury. These changes divide the DAO’s current structure into smaller self-governed and self-sustained units named SubDAOs, which will also have their own tokens in the MakerDAO ecosystem. Moreover, the proposal also planned to increase the protocol’s revenues by investing a part of its reserves (worth USD 7 billion) into real-world assets and money-market funds.The platform outlined its plans for a major update (named Endgame) in May 2023. The launch was proposed to take place in five phases and will ultimately lead to the creation of a new blockchain. The road map is as follows: 1) launching new branding and website as well as upgraded versions of Dai and MKR tokens; 2) launching six Maker SubDAOs, specializing in user acquisition, decentralized frontends, and collateral allocation; 3) introducing new AI tools to assist governance, including tools for summarizing, interpreting, and generating governance proposals; 4) enabling rewards for governance participation; and 5) deploying a new blockchain to house backend logic for SubDAO tokenomics and MakerDAO governance security. The first phase of the update is expected to be rolled out in the summer of 2024.In August 2024, the protocol followed through with the first phase of its plans by <a href="https://sp-edge.com/updates/32993">rebranding itself under the new name "Sky"</a>, and launching new versions of Dai and MKR tokens named the USDS and SKY. Funding and financialsAs of May 2024, MakerDAO had around USD 8.1 billion in total value locked (TVL). The company’s most recent funding round was in April 2020 for an undisclosed sum. Previously, the company had raised USD 27.5 million through the sale of its MKR token to Dragonfly Partners and Paragon to expand its operations to Asia.

MakerDAO

Founded by former executives of Qualcomm, Solana Labs is the developer of the Solana blockchain, which uses the native cryptocurrency SOL. The company enables developers to create decentralized applications in its blockchain and is capable of carrying out 50,000 transactions per second (TPS) with a theoretical upper limit of 710,000 TPS for the architecture. As of May 2024, the blockchain averaged around 2,400 TPS. This is in contrast to Ethereum’s average of between 13 to 15 TPS. In addition to transaction speed, Solana also has other advantages such as lower transaction fees and improved scalability, given its proof-of-stake consensus mechanism and underlying architecture. The mechanism also enables users to stake their SOL and earn yields for validating the network. Solana provides the ability to create specialized tooling and programming functionality to tokens through <a href="https://sp-edge.com/updates/25910">Token Extensions</a>. This allows developers and businesses to establish rules for tokens, such as dictating their functionality and determining their holders, as well as embed features like whitelisting, automatic transfer fees, and confidentiality provisions for transfers.Solana also provides guides and a content aggregator website for developers to discover tools to create dApps on its blockchain. As of May 2024, more than 440 dApps were created on Solana, ranging across use cases such as DeFi, NFTs, and gaming. It also <a href="https://sp-edge.com/updates/18094">launched a ChatGPT </a>(a chatbot built on OpenAI's GPT model) plugin to allow developers and users to query the blockchain for on-chain data. The plugin works through the ChatGPT interface and allows users to perform various tasks such as checking wallet balances, transferring tokens, and purchasing NFTs.Key customers and partnershipsWeb browser developer Opera partnered with Solana in December 2021 to integrate the blockchain and create a built-in crypto wallet onto the Opera browser to improve accessibility to dApps hosted on the blockchain.As of May 2024, the company served several enterprise clients such as Shopify, Asics, Helio, and Tiplink.Funding and financialsThe total value locked (TVL) in DeFi projects across the Solana blockchain amounted to USD 4 billion as of May 2024. The company raised USD 314 million through an initial coin offering (ICO) of SOL. The ICO was co-led by Polychain Capital and Andreessen Horowitz. The funding was to be used to create a venture investing arm, a trading desk, and support the development of new applications in its blockchain.

Solana

Swiss-based Eidoo is a developer of a wallet that supports cryptocurrencies such as Bitcoin and Ethereum, along with tokens such as DAI, MKR, AAVE, and UNI, among others. In addition, Eidoo provides a DeFi marketplace that integrates with its wallet, allowing users to trade any tokens that they hold. Eidoo also offers a debit card that allows the conversion of digital assets into fiat currencies, such as the GBP and EURO, and spending or even withdrawing cash from ATMs.Eidoo began with the proprietary token EDO, which it also used to raise USD 27.9 million in an initial coin offering (ICO) in 2017. The token was then upgraded following its merger with blockchain oracle provider Provable Things to establish pNetwork, the infrastructure that facilitates cross-chain interactions between multiple decentralized apps, governed by the token PNT. To obtain an Eidoo debit card, users are required to stake PNT ranging from 20 to 200,000 for various service tiers.Eidoo had several applications such as virtual account numbers to deposit money and obtain a tokenized representation of their deposit as well as features to buy, hold, and trade NFTs in the roadmap as of December 2021.

Eidoo

Synthetix is a DAO (governed by holders of its native token SNX) that offers a platform on which users can trade and vote on the creation of on-chain synthetic assets, which are derivatives based on real-world assets. These synthetic assets enable traders to capture the price movements of assets such as cryptocurrencies, fiat currencies, stocks, and commodities, among others, with zero slippage. The protocol allows users to stake SNX as collateral for the debt pool and earn weekly rewards. As of April 2022, Synthetix had USD 642 million in total value locked (TVL).Additionally, Synthetix also offers the opportunity for developers to build on top of the platform to tap into its liquidity as well as develop decentralized perpetual futures, options markets, deal coordination markets, and more. As of December 2021, the protocol served large DeFi platforms including 1inch, Curve Finance, Yearn Finance, and Paraswap.In February 2023, Synthetix <a href="https://sp-edge.com/updates/16609?industryIds=64">deployed version 3 (v3) of its platform </a>on the Ethereum mainnet. V3 reportedly offers more efficient architecture that enables developers to create products that offer a liquid market for any financial derivative, as well as more complex decentralized applications. Additionally, the solution also offers staking and differentiated debt pools, to enable stakers to earn fees from supplying collateral to specific asset pools. The company went on to deploy its protocol on Base, an Ethereum Layer-2 blockchain developed by Coinbase, in April 2024. Moreover, the company announced plans to launch a new perpetual futures exchange named Infinex in the following months.Funding and financialsIn March 2023, Synthetix <a href="https://sp-edge.com/updates/17267">received an investment of USD 20 million </a>from DWF Labs, a Web3 venture capital company. Synthetix plans to use this investment to drive volume for its protocol across both centralized and decentralized exchanges and invest in product development.

Synthetix

Compound is an open-source lending protocol built on Ethereum that allows developers to build DeFi applications for functions such as deposits and lending. Compound offers adjusted money market interest rates based on asset-specific supply and demand and supports a number of Ethereum-based assets for users to take collateralized loans and lock-up assets without borrowing. Locked assets are automatically liquidated if an independent oracle determines that the price has dropped too low. Additionally, since assets are stored in a shared pool, even users with liquidated collateral can claim tokens if they are able to repay the general pool. Compound also <a href="https://sp-edge.com/updates/13038">offers borrowing services</a> for institutional clients that allow them to borrow USD or USDC at a fixed annual percentage rate of 6% using cryptocurrencies such as Bitcoin or Ether as collateral, with a loan-to-value of 90%.As of April 2024, Compound had a total value locked (TVL) of USD 2.3 billion. The protocol is governed by its native-token COMP, which along with a variety of other digital assets that are a part of the Compound ecosystem, are supported by Coinbase Custody, a crypto asset custodian. In August 2022, Compound launched a version of its protocol named “Compound III” which features a single borrowable asset. Users can supply collateral that can never be withdrawn by other users (except during liquidation) and borrow USDC.In May 2022, Compound<a href="https://sp-edge.com/updates/10267"> received a B- credit rating from S&amp;P Global Ratings</a> on its enterprise credit facility which offers 4% annually on deposits of the stablecoin USDC. Notably, Compound claims that this is the first time an "institutional DeFi" product has been scored by a major credit rating agency.Funding and financialsCompound’s last funding round was in November 2019 where it raised USD 25 million in a Series A led by Andreessen Horowitz’s a16z crypto fund to help the company further decentralize the protocol by enabling crypto exchanges and custodians such as Coinbase to maintain the protocol going forward.

Compound

Organizations and protocols that allow individuals to lend their crypto assets and take out collateralized or uncollateralized loans from to/from these projects

Organizations that allow individuals to invest in tokenized financial and real assets

Organizations that provide fully decentralized insurance products

Organizations that apply NFTs across areas of finance such as documentation and non-fractionalized ownership records for assets

Decentralized exchanges that help connect buyers and sellers of DeFi tokens without the need to rely on an intermediary

Organizations that provide digital wallets for users to take custody of DeFi tokens

Blockchains and related protocols that allow developers to build DeFi apps

All companies within this industry are either blockchain-based platforms or offer blockchain-centric services

Promotes financial inclusivity, allowing those that won't traditionally have access to credit to raise funds

Companies with the infrastructure segment offer solutions for users to build decentralized applications

PROMINENT_CATEGORY

<div>
 A Bitcoin-based life insurance provider, Meanwhile Insurance Bitcoin, has obtained a long-term commercial license from the Bermuda Monetary Authority (BMA), making it the first to acquire a Class IILT license. The license was granted after an 18-month long process in the Insurance Regulatory Sandbox, where their governance, risk, and compliance operations were created, launched, and validated in accordance with BMA's Solvency II equivalent regulatory requirements. 
</div>

Meanwhile

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