Venture Trotter Weekly Review: Week Ending April 21, 2023

Ruceto tracked over $165 million in institutional investments into crypto or web3 companies last week. Covered investments include Berachain, Karate Combat, Swaap Finance, and various others.

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

Target Name $ Raised Lead Investors Description Token
Valor Equity Partners
Offer financial and custody services for Bitcoin holders including multisig vaults, trading desk, bitcoin-backed loans, and bitcoin IRAs
Polychain Capital
An EVM compatible L1 blockchain that is DeFi-focused
Jump Crypto, Bybit, Sygnum, and others
Creator of non-custodial staking infrastructure for 25+ blockchain networks, including Ethereum
A full contact striking sports league, structured as a DAO
A permissionless database built on the SQLite engine, created for Web3 developers
QCP and others
Building a platform that enables transparent clearing and settlement in digital assets, enabling real time monitoring of your positions with counterparties
Signature Ventures
A market neutral Automated Market Maker that the company claims enables a new asset class: yield ETFs (index products that collect fees)
Electric Capital
Building a Web3 notification system that will allow developers to send messages to users, requiring minimal to no coding
Kraken Ventures, Eterna Capital, Alchemy, MoonPay, and others
Cyber security for web3 projects

Berachain is building a DeFi-focused and EVM-compatible L1 blockchain built on the Cosmos SDK. The company aims to use its “proof of liquidity” consensus allow staked assets to be used in DeFi protocols, rather than require them to be locked in order to secure the blockchain’s network. Tokens will include BERA, a native gas token, BGT, the governance token, and HONEY, a stablecoin.

Karate Combat is a full contact combat league that places fighters in computer generated environments powered by the Unreal Engine. The KARATE token is used for DAO governance, participation in token gated events, and the Up Only Gaming app. The Up Only Gaming app enables users to earn tokens when the fighters they pick win, compete in leaderboards, and participate in various other activities. Both the token and app are scheduled to launch on May 10.

Swaap Finance is building a market neutral automated market maker that the enables access to an asset class that the company calls, “yield ETFs” (index products that collect fees). The company aims to minimize impermanent losses, a problem that is common in DeFi. Liquidity providers face impermanent loss when the price of the assets they supplied to a pool decorrelate due arbitrage trading. Swaap claims to reduce this arbitrage trading, and boasts an impermanent loss rate of less than 0.1% in v1. In the future, the protocol will be governed by a token. Although no token has been released yet, the company says that by participating in Swaap pools and earning token rewards now, you can receive tokens later. A waitlist for the upcoming V2 is currently open.

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