Venture Trotter Weekly Review: Week Ending 9/16/22

Last Week’s Crypto Investment Highlights

Links to the recipient website, investment announcement, and token info are provided via hyperlinks on the Recipient Name, $ Raised, and Token columns respectively.

Recipient $ Raised Lead Investors Description Token
Doodles are a collection of 10,000 NFTs
Valar Ventures, Global Founders Capital, Coatue
Digital asset high frequency trading platform
J.P. Morgan, LRC Group
Institutional-grade blockchain for digital assets
Felicis, Dragonfly Capital
Provides real-time access to data stored on blockchains and lets you transform, enhance, and integrate that data with real-time streams to meet your custom needs
Tiger Global, Tusk Venture Partners
Fast and compliant token distribution platform
AC Ventures
Indonesia Crypto Asset Marketplace
Framework Ventures
Blockchain discovery engine for gaming
Brand Foundry Ventures
Web3-powered automated compliance for financial firms
a16z crypto
Web3 music creation platform built on the ARP protocol technology
DeFi with a decentralized derivative exchange, and lending and borrowing pools
Pantera Capital
Non-custodial wallet built on NEAR
GSR, SIG, CMS, C-Squared, Flow Traders
DeFi that specifically targets institutional investors
Audits backed by smart contract coverage
OKX Blockdream Ventures, Magnus Capital, Mintable Go Fund, Athena Ventures
Metaverse for financial trading and community collaboration
Total Invested

Doodles are a collection of 10,000 colorful NFTs. Its $54 million round was led by 776, the fund of Redditt’s cofounder Alexis Ohanian. Acrew Capital, FTX Ventures and 10T Holdings also participated in the round. A drop is scheduled for October with a timeline that can been seen here.

Forward is a DeFi offering decentralized derivative exchange (DDEX) and lending & borrowing pools (LBPs). When trading on DDEX, users can lever up to 5x. Alternatively, users can earn yield by lending major tokens like BTC to LBPs. These two services rely on each other because DDEX requires deep liquidity pools, and LBPs require borrowing demand. Positions are kept by NFT membership cards.

FORW tokens can be staked in NFT membership cards to increase a user’s tier, which lead to benefits such as higher lending APRs, lower trading fees, and voting rights. You can follow Forward’s Twitter page if you are interested in participating in their upcoming airdrop.

Infinity Exchange (“Infinity”) is a non-custodial interest rate protocol created by a team of Wall Street financial engineers. Infinity calls itself “DeFi 2.0” and it specifically targets long term institutional users with it’s efficient interest rate pricing, robust risk management, and its ability to use complex assets as collateral. While a variety of tokens will be usable on the protocol, estimated LTV data is still subject to change.

MetaFi is a financial metaverse where users can trade tokens, NFTs, tokenized stocks, commodities, and bonds, and communicate with other traders. MetaFi’s token is METAFI, a deflationary token with governance power in MetaFi DAO. Users trade in MetaFi, the resulting fees go to the MetaFi DAO, and MEFAFI holders determine how the fees will be used (buy back and burn METAFI, stake METAFI, or bolster the liquidity provision).

Sherlock is an audit marketplace and smart contract coverage protocol that seeks to protect DeFi users from smart contract exploits. The Sherlock ecosystem includes protocol customers, stakers, and Watsons (security experts). Protocol customers come to Sherlock for audits by Watsons and for optional coverage, in which Sherlock pays to make customers whole if a covered protocol is exploited. Stakers deposit USDC in return for premiums from protocol customers (though the principal is at risk if there is a covered exploit), interest from yield strategies, and Sherlocks governance token, SHER.


Institutional Investors in Crypto

Northzone raised €1 billion to invest in seed through growth stage tech businesses. The global investor’s portfolio is in a range of tech verticals that include crypto and web3.

MicroStrategy is the largest corporate buyer of BTC. It signaled to the SEC that it plans to sell up to $500 million in stock at some future date, and the proceeds may go towards buying more BTC.

Two Sigma Ventures is raising $400 million across 2 funds, Two Sigma Ventures IV for early-stage startups, and Two Sigma Ventures Opportunity Fund II for growth stage companies. The VCs portfolio covers a number of tech markets including web3.

Disclaimer: The content presented is for informational purposes only and does not constitute financial, investment, tax, legal, or professional advice. The content is provided ‘as is’ without any representations or warranties, express or implied.

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