Venture Capital with a focus on Blockchain, AI and VR

Monday Capital

Coinbase Ventures is an investment arm of Coinbase that aims to invest in seed-stage cryptocurrency and blockchain startups. The company was founded in 2018 and is based in San Francisco, California, United States.

Coinbase Ventures

Republic gives people the opportunity to invest in the future they believe in by providing access to startup, real estate, crypto, and video game investments. Focused on creating a diverse, sustainable, and connected world, Republic has facilitated over $500 million in investments from over one million members of the global community. With a global team in six countries, Republic is backed by Galaxy Digital, The Motley Fool, Binance, Naspers, AngelList, and more.

Republic

Polymath Network (Polymath) is a decentralized protocol that makes it easier to raise capital and create security tokens. The Security Token Standard, ERC-1400, embeds regulatory requirements into the tokens themselves, restricting trading to verified participants only. The protocol simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.

Polymath Network

Arrington XRP Capital is a digital asset management firm in blockchain-based capital markets. The company was founded in 2017.

Arrington XRP Capital

CENTRE is an open-source, decentralized crypto-powered consumer payment network. It is an open-source set of protocols and a network scheme that allows money to flow between wallets just like information between browsers, email between mail services, and texts between SMS providers. By removing artificial economic borders, they enable a more efficient and inclusive global marketplace.

CENTRE

LD Capital is one of Asia's earliest organizations focusing on value investing in blockchain field. Owing to industrial resource advantages and professional investment research teams, LD Capital has successively discovered and invested in projects such as Qtum, Vechain and Eos which all achieved over 100 times return. Their teams spread over China, the United States, Europe, Singapore, Japan, and South Korea, and have accumulated rich experience in areas of traditional internet, Fintech, and advanced blockchain technology. They are committed to the globalization of blockchain and quality investment in the entire industry. LD Capital focuses on blockchain innovation projects within finance, games, content publishing, Internet of Things and other circuits, and we have been propelling broad layout of blockchain technology and infrastructure construction to facilitate the comprehensive development of the global blockchain ecosystem.

LD Capital

A fund dedicated to backing the most brilliant minds in the blockchain space

AU21 Capital

AC Capital is a venture firm focusing on block-chain and fin-tech Industry, dedicated to discovering unicorns and expanding the development and adoption of block-chain technology through investments and marketing services.

AC Capital

Taureon is a digital asset investment group.

Taureon

Autonomy Capital: A thematic global macro investment firm with a locally focused perspective.

Autonomy Capital

Republic Labs is a growth-stage investment advisory focused on profitability and resiliency. Republic Labs works with high net-worth individuals and family offices to syndicate investment opportunities. It was founded in

Republic capital

Founded in 2017, Krypital Group is a leading global venture capital firm and blockchain incubator. Vested in a complete blockchain ecosystem, the company has specific investment funds for both primary and secondary markets, as well as providing end-to-end services such as project incubation, brand management and technical advisory. To date, Krypital Group has active arms in North American, Asia and Latin American.

Krypital Group

We Are Reshaping Digital Infrastructure Via WEB3.0

ODIG

ZBS CAPITAL is a VC fund dedicated to build a decentralized world together. ZBS CAPITAL story starts in 2017 with an ICO boom and continues nowadays. We have assembled the right team from all over the world with diverse experience in the main areas of blockchain, marketing and finance. ZBS CAPITAL supports promising early-stage projects & companies with finance and advisory help.  Our Telegram & Twitter mostly focused on short/mid-term trading deals. Our analysts & traders do a deep research based on the fundamentals: tech development of the project, social impact & awareness, tokenomics, upcoming news & events, vision & ability to reach the goal.

ZBS CAPITAL

Shima Capital is an investment fund that focuses on supporting blockchain startups. The firm is headquartered in San Francisco, California, United States.

Shima Capital

Genblock Capital invests exclusively in blockchain and cryptocurrency, with a focus on decentralized finance. We have been deeply entrenched in the crypto markets since early 2017, and invest in liquid cryptocurrencies on the secondary market as well as early-stage funding rounds. We aim to be power users of the project we invest in and help projects with bootstrapping liquidity, token economics, market making, marketing, and connecting founders with our vast network.

Genblock Capital

ArkStream Capital is a crypto fund dedicated to growing Web3.0 unicorns.

ArkStream Capital

We are a global leading investment firm that focuses on the most disruptive start-ups and provides support to fast-growing Web 3.0 and blockchain companies. We invest in innovative ideas and protocols that pave the way for the future blockchain ecosystem.

Ceras Ventures

Crypto3 Capital is a blockchain venture capital institution focusing on value investment

Crypto3 Capital

B21 Capital invest in decentralized blockchain technology.

B21 Capital

GTA Ventures is a pioneer and the premier crypto assets venture, project accelerator, and community builder based in Vietnam. We aim to bring together the leading participants for the blockchain industry in Vietnam. GTA Ventures is a VC that supports cryptocurrency projects in the early stage. GTA Ventures will provide marketing solutions helping projects to expand their reach in the industry.

GTA Ventures

Avalon Wealth is a group of marketing experts, blockchain veterans, real estate investors and event organizers.

Avalon Wealth Club

Leland Ventures was a crypto hedge fund that founded by a professional invest team.From the underlying technical architecture of the blockchain to the decision-making of the macro top-level economic design, Leland Ventures focuses on on new technologies and decentralized practices and empowers blockchain startups with the global resources and community influencers.

Leland Ventures

OKX Ventures focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value. Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

OKX Ventures

NewTribe Capital is a venture firm specializing in early-stage Web3 investments that aims to support the next generation of permissionless, trustless, and decentralized technology.  NewTribe Capital’s support extends beyond the capital, offering portfolio companies access to an extensive network of industry connections and resources, fostering their growth and development. The founding team has been actively investing in the crypto space for over 10 years. With a deep understanding of tokenomics, macroeconomics, crypto industry trends, product-market fit, and go-to-market strategy, we are always happy to assist in a project’s growth and development in all the ways that we can.

NewTribe Capital

COIND is a company that manages crypto assets. The company invests in both liquid and illiquid tokens that are emerging repositories of value and based on revolutionary technologies. COIND was founded by successful investors, engineers, and technology entrepreneurs. Prior to COIND, they founded six companies (five of which were purchased), invested in over 100 technology startups with a combined market worth in the tens of billions, and worked as executives at Facebook, Google, and Twitter. COIND's founders have been personally investing in cryptocurrencies since 2013, and were among the first to believe in Bitcoin, Ethereum, and Monero.

COIND

IBM is a technology and innovation company that offers a wide range of technology and consulting services; a broad portfolio of middleware for collaboration, predictive analytics, software development, and systems management. It offers services across AI, machine learning, cybersecurity, analytics, DevOps, and more, helping businesses innovate and automate processes.

Gate.io is a crypto exchange platform that provides trade, investment, and digital wallet services. It enables users to buy, sell, and trade over 1300 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, etc.

Gate.io

Avisa Venture is a venture capital firm that invests in the blockchain sector. Founded in 2020 and is based in Bengaluru, Karnataka, India.

Avisa Ventures

Portal

SatoshiSync is the chain agnostic protocol for inscriptions and BTC L2, simplifying BTCFi liquidity. It pioneers permissionless inscription markets on BRC20, enabling easy customization and one-click bridging to ERC20 or EVMs.

Flash Protocol is a Bitcoin-native platform for issuing NFTs.

Portal is a financial services company that trades crypto anywhere without putting coins at risk, all from within a controllable wallet. Founded in 2018, Portal is headquartered in San Francisco, California.

Portal offers a decentralized exchange (DEX) platform that enables peer-to-peer swapping of cryptocurrencies across a range of blockchains. Built on the Bitcoin blockchain, the platform also offers a non-custodial wallet tool that integrates with the DEX. Users can receive, store and send cryptocurrencies across a number of blockchains, including Bitcoin and Ethereum, via automated market making smart contracts.

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

SatoshiSync

Chainlink

Candaq Fintech Group

LayerZero Labs

Maven Capital

MH Ventures

Seedify

Rootstock Foundation

Core DAO

Ape Terminal

Covey network

Flash Protocol

Signum Capital

Rarestone Capital

Portico Ventures

Pentas Ventures

Cogitent Ventures

DWF Labs

Cypher Capital

Innovion

Portal offers a decentralized exchange (DEX) platform that enables peer-to-peer swapping of cryptocurrencies across a range of blockchains. Built on the Bitcoin blockchain, the platform also offers a non-custodial wallet tool that integrates with the DEX. Users can receive, store and send cryptocurrencies across a number of blockchains, including Bitcoin and Ethereum, via automated market making smart contracts.The company also offers an AI-powered, co-pilot investment application to provide users with financial intelligence and investment strategies, as well as an API integration tool for building cross-chain swap functionality into existing wallets.Key customers and partnershipsAs of May 2024, the platform’s API was used by several DeFi protocols such as B2, Lumerin, Ordiswap, and Flash Protocol.In February 2024, the company partnered with <a href="https://sp-edge.com/companies/1930376">Babylon</a> to integrate the latter’s Bitcoin Timestamping Protocol (which enables the synchronization of timestamp events from various blockchains onto Bitcoin) onto its exchange.In July 2024, Portal <a href="https://sp-edge.com/updates/32022">launched a series of new DeFi integrations</a> with Bitlayer, a Bitcoin layer 2 network, Sovryn, a Bitcoin-based lending protocol, and Tari, a layer 1 blockchain network. The integrations enabled the protocol to provide a number of new capabilities for its users ahead of the upcoming launch of its testnet. These include 1) improved transaction speeds and privacy via the integration with Bitlayer, 2) BTC-backed stablecoin trading features via Sovryn, and 3) digital asset tokenization and exchange using Bitcoin as the settlement layer via Tari.Funding and financialsIn January 2024, Portal <a href="https://sp-edge.com/updates/26200">raised USD 34 million</a> in seed funding led by Coinbase Ventures to support the development of the Portal DEX and the Portal Wallet. The company also announced that it would be entering several strategic partnerships with “major Bitcoin projects.”

MakerDAO is a DAO (governed through the MKR token) that manages the Sky protocol (formerly known as Maker).&nbsp;Developed on the Ethereum blockchain, the 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.Sky offers access to investing and borrowing DAI through the Oasis app which was developed by some of the creators of protocol. In addition, the protocol is available for developers of DeFi apps who can build apps to facilitate earning, investing, and borrowing DAI. As of May 2024, Sky had integrated with over 400 applications ranging from payment systems to gaming platforms. It 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.&nbsp;In April 2022, the protocol 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.&nbsp;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, the protocol 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.&nbsp;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 governance security. The first phase of the update is expected to be rolled out in the summer of 2024.&nbsp;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.&nbsp;Key customers and partnershipsIn September 2024, Sky<a href="https://sp-edge.com/updates/33252"> partnered with Aave Labs</a>, to launch the “Sky Aave Force” initiative. The initiative featured key proposals such as integrating the newly launched USDS and sUSDS stablecoins on Aave’s V3 protocol, introducing an incentive program for sUSDS suppliers and deploying a direct deposit module for USDS into the Aave Lido Market. Additionally, the partnership will enable the companies to distribute SPK tokens, the native token of Sky’s lending protocol Spark, to create a market for sUSDS on Aave. Collectively, these initiatives enable users to earn yields on their sUSDS deposits from the revenues generated by Sky’s protocol and mint USDS directly on Aave without meeting the usual collateral requirements.

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

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 Portal to Bitcoin, has declared new DeFi integrations with Bitlayer, Sovryn, and Tari. Bitlayer is a Bitcoin layer-2 network, Sovryn a Bitcoin-based lending protocol, and Tari a layer-1 blockchain network.
 The integrations will provide many new capabilities for its users. These include improved transaction speeds and privacy through Bitlayer, BTC-backed stablecoin trading via Sovryn, and digital asset tokenization and exchange using Bitcoin as the settlement layer through Tari. All of these are in preparation for the upcoming launch of its testnet.
 
</div> Analyst QuickTake: 
 The Bitcoin DeFi space has seen a steady increase in disruptor activity and funding throughout 2024. This news comes just&nbsp;six months after Portal to Bitcoin raised <a href="https: 
//sp-edge.com/updates/26200"> USD 34 million </a> in seed funding, and less than a week after <a href="https: 
//sp-edge.com/companies/3529715"> Bitlayer </a> raised <a href="https: 
//sp-edge.com/updates/31906"> USD 11 million </a> in Series A funding. While investor interest has grown, many companies have strengthened their positions through inter-ecosystem partnerships, with players such as <a href="https: 
//sp-edge.com/companies/2939840"> Velar </a> ( <a href="https: 
//sp-edge.com/updates/29564"> May </a> ) and <a href="https: 
//sp-edge.com/companies/1738417"> iZUMI Finance </a> ( <a href="https: 
//sp-edge.com/updates/31137"> July </a> ) collaborating with Bitcoin layer-2 networks to expand their Bitcoin-based DeFi solutions.

Portal

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