Venture Trotter Weekly Review: Week Ending 9/23/22

Last Week’s Crypto Investment Highlights


Ruceto tracked over $340 million in institutional investments into crypto last week. 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
Andreessen Horowitz
Fraud detection for web3 and fintech
GEM Digital
An environmentally sustainable layer 1 blockchain
Polychain Capital
Crypto exchange in Africa
Alameda Research, Jump Crypto
Largest crypto trading software ($23b mo/volume) providing traders with ultimate control over their positions on most exchanges
Brevan Howard Digital
Crypto research platform
Framework Ventures
A bug bounty platform, protecting over $70 billion in user funds
The Hyperlane protocol provides an on-chain API for sending information between blockchains
Decentralized Cryptography for Access Control, Compute, and Encryption
TCG Crypto
The World’s First Play-And-Earn Chess Platform
Electric Capital
Real-time bookkeeping, accounting, and treasury management for web3
Skybridge Capital
Blockchain game studio, and cross-chain NFT marketplace
Resolute Ventures, Uneven
New game development startup, makers of UNIOVERSE
Boldstart Ventures
Enable financial workflows such as reconciliation, balance calculation, audit and reporting for Web3 assets from on-ramp to off-ramp
Bain Capital Crypto
Building ecosystem-aligned MEV products on Cosmos
Viola Ventures, Fabric Ventures, Mensch Capital Partners
Unified crypto and fiat treasury for businesses Capital, Forge Ventures, MassMutual Ventures
Help automate financial activities and reporting in Web3
Beenext and Arkam
Crypto tax reporting app
SNÖ Ventures
Automate your web 3 fundraising and token vesting operations
Founders Fund
A liquidity DeFi protocol for the development of sustainable bitcoin mining operations
Binance Labs
Provides comprehensive blockchain security solutions

GRNGrid is an environmentally friendly layer 1 blockchain and is the first blockchain with the capability to run entirely on renewable energy sources. GRNGrid’s native token, GRN (pronounced Green), can be used for staking, paying fees, and for providing validator incentives.

Hyperlane is a protocol that can enable secure messaging between multiple blockchains. The thesis is that as the number of blockchains grows, there needs to be an interchain network that connects them in order to enable interchain applications. Hyperlane calls this network the “Interchain Highway.” The token opportunity here is related to Hyperlane’s proof-of-stake model where users “can provide economic security by staking ABC tokens and delegating to one or more validators. Users can request to withdraw staked ABC, after which they must wait a 21-day unbonding period before receiving their tokens.” Newly minted ABC are provided to stakers as a reward.

Immortal Game is a blockchain-based, play-and-earn, and free-to-play chess game. The platform offers a marketplace for NFTs that can be used in game along with free pieces to earn weekly rewards.

Random Games is a game developer that includes executives who worked on Grand Theft Auto, Donkey Kong Country, Crackdown and APB. It is developing The Unioverse, “a gigantic, community-owned franchise” that users can access after buying an NFT avatar. Users are equipped with royalty-free assets to “expand the Unioverse with their own epic adventures, games, comics, artwork and whatever they can imagine.”

Vulcan Forged “is an established non-fungible token (NFT) game studio, marketplace, and dApp incubator with 10+ games, a 20000+ community, and top 5 NFT marketplace volume.” The company plans to launch a metaverse-as-a-service that enables users to create their own metaverse land and store the data on an NFT.

Institutional Investors in Crypto

C Ventures, the VC firm of Hong Kong real estate investor and billionaire Adrian Cheng, is expected to raise a new $200 million fund to invest in crypto. C Ventures’ crypto portfolio currently includes Animoca Brands, RTFKT Studios and Matrixpor.

DTCP announced the first closing of its 3rd fund, Growth Equity III Fund, at $300 million. Investors include Deutsche Telekom and SoftBank Group International. The German-based VC has $2.3 billion is AUM an invested in over 70 companies. “Following the proven proprietary data-driven investment strategy of DTCP, GE III invests in cloud-based enterprise software and business Software-as-a-Service (SaaS) companies in the fields of cybersecurity, web3, AI, fintech, vertical SaaS solutions as well as IT applications and cloud infrastructure software.” This fund is expected to make about 25 investments in the range of $20 – 25 million.

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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