Crypto Deal Flow: March 6–9

Let’s research activity of crypto funds, private investors and crypto startups for last 4 days. Our Radar system detected 21 deals.

Crypto Deal Flow: March 6–9
Crypto Deal Flow: March 6–9

Privacy-centric blockchain Concordium has finalized its MVP testnet and concluded a private sale of tokens to fund further development. The company secured $15m in additional funding for the Public and permissionless compliance-ready privacy-centric blockchain. Late February Concordium announced joint venture cooperation between Concordium and Geely Group, a Fortune 500 company and automotive technology firm. The partnership will focus on building blockchain-based services on Concordium’s enterprise-focused chain.

2. MerchDAO | token sale

MerchDAO, marketplace of limited-edition items, will hold IDO on Poolz platform on March 27.

3. Fei Labs| $19m | Andreessen Horowitz, Framework Ventures, Coinbase Ventures and others| private round

Fei Labs, a project building a more capital-efficient decentralized stablecoin, raised $19m from Andreessen Horowitz (a16z), Framework Ventures, Coinbase Ventures, ParaFi Capital, Variant Fund and AngelList founder Naval Ravikant, among others.

4. HackAtom RU 2021 | $31k |Tendermint, Citizen Cosmos and Cyber Academy | project support

Registration for the hackathon HackAtom RU 2021 with a prize fund of $31k is open. The hackathon will run from March 15 to March 31. The goal of the hackathon is to create DeFi projects on Cosmos and use the IBC protocol in them. Event organizers: Tendermint, Citizen Cosmos and Cyber Academy.

5. Curv | PayPal | acquisitions

In early March, we wrote that PayPal is in the process of buying Curv, a technology firm that provides secure storage for cryptocurrencies. Now PayPal has officially confirmed the deal.

6. Aker ASA | $58.6m | bitcoin news

Norway’s Aker ASA is establishing a new unit dedicated to investing in bitcoin and blockchain technology. Seetee AS would initially have a capital of 500m Norwegian crowns ($58.6m) and planned to keep its liquid assets in bitcoin.

7. Cash Tech | $100k | token sale

Cash Tech is a comprehensive desktop and mobile application that allows cryptocurrency holders to use their digital assets in versatile and unprecedented ways. The project will hold a token sale on DuckSTARTER on March 22, round capitalization is $100k.

8. NYDIG| $200m| Stone Ridge Holdings Group, Morgan Stanley, New York Life and others | strategy round

NYDIG, a leading provider of technology and investment solutions for Bitcoin, today announced a $200m growth capital round led by strategic partners Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. Bessemer Venture Partners and FinTech Collective, who led the two prior funding rounds for NYDIG, were also significant participants.

9. Saffron| $2m | Dragonfly Capital, Coinbase Ventures, Multicoin Capital and others| private round

DeFi risk management platform Saffron has raised over $2m from Dragonfly Capital, Coinbase Ventures, Multicoin Capital, DeFi Holdings and private investors.

10. dTrade| undiscloused sum | Polychain Capital, ParaFi Capital, Hypersphere Ventures and others| private round

The dTrade decentralized exchange in the Polkadot ecosystem has raised capital from the lead investor Polychain Capital with the participation of ParaFi Capital, Hypersphere Ventures, Mechanism Capital, CMS Holdings, AU21 Capital, PNYX Ventures and private investors.

11. Antoine Riard| undiscloused sum | OKCoin | grant

Cryptocurrency exchange OKCoin has announced that it has granted an undisclosed sum to Lightning Network developer Antoine Riard. Riard worked at Bitcoin research and development firm Chaincode Labs in 2019 and 2020 and now focuses on building Rust-Lightning, a library for the Lightning Network

12. Raze Network | undiscloused sum |SigNum Capital, AU21 Capital, CMS Holdings and others| private round

Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. The project raised funds from SigNum Capital, AU21 Capital, CMS Holdings, Spark Digital Capital, Master Ventures, PNYX, Moonwhale, and Flurry Capital.

13. Unit protocol | $1m | grant

Unit protocol is a decentralized borrowing protocol that allows you to mint USDP stablecoin using a variety of tokens as collateral. The project announced a $1m grant system for educational initiatives supporting Unit Protocol.

14. Argo Blockchain | bitcoin news

Argo Blockchain is pleased to provide a further update to its previously announced non-binding LOI with DPN LLC of New York, which set out the terms for Argo to acquire 320 acres of land in West Texas, USA. The acquisition was an initial price of $5m, satisfied by issuing and alloting 3,497,817 new ordinary shares in Argo, with up to a further $12.5m in shares at a predetermined price if certain contractual milestones related to the facility are fulfilled.

15. FinNexus (FNX) | $1.5m | IOSG Ventures, Shata Capital, Parallel Ventures and others| private round

FinNexus (FNX), the decentralized options platform, has completed a $1.5m round of financing led by IOSG Ventures. Other participants include Shata Capital, Parallel Ventures, DeFi Capital, SevenX Ventures, Incuba Alpha Labs, D1 Ventures, and K24 Ventures.

16. StakeWise | $2m | Greenfield One, Collider Ventures, Gumi Cryptos and others| private round

StakeWise, the ETH2 staking protocol has announced the completion of a $2 million private funding round, led by Greenfield One, with collaboration from Collider Ventures, Gumi Cryptos, Lionschain Capital, and several private investors.

17. Nine Chronicles | $1m | Planetarium |grant

Planetarium has launched a grant fund to support community development of its blockchain-driven role-playing game, Nine Chronicles. The open-source game can be freely modified and “forked” into different experiences. A total of $2.5m in funds will be awarded to community developers who create tools and content for the game.

18. AuBit | $1m| institutional investment in the AuBit Virtual Hedge Fund | strategy round

AuBit has received its first $1m institutional investment in the AuBit Virtual Hedge Fund.

19. BGBF-I | new fund

The Malaysia-based BCMG Genesis Bitcoin Fund-I, or BGBF-I, has officially launched, claiming to have become the first insured institutional crypto product available in the Southeast Asian region. BGBF-I is regulated in Labuan, Malaysia, where IBH Investment Bank serves as the fund’s main advisor. Professional financial services provider, Hong Kong-based Alpha Calibration, will provide regulatory compliance services, and be audited by HLB Hodgson.

20. Nomura | $25m | Alan Howard, Galaxy Digital, NOIA Capital and others| series A round

Nomura-backed institutional crypto custodian Komainu has raised $25m in Series A funding. The round was led by hedge fund veteran Alan Howard, who also owns crypto-asset manager Elwood Asset Management. Additional participants in the round included Galaxy Digital, NOIA Capital, and Nomura Research Institute. Established in 2018, Komainu is a joint venture between three firms: Nomura, Ledger, and CoinShares. All three firms also contributed to Series A.

21. Convergence Finance | $1.5m| Morningstar Ventures, BlackEdge Capital, Block Dream Fund and others | strategy round

Convergence Finance is the first to make real asset exposure interchangeable in the DeFi space by connecting real world asset exposure with utility tokens on a single interface that is easy to use, adopt and composable with other DeFi Protocols. Convergence Finance secures $1.5m strategic follow-on investment. The additional investments were from Morningstar Ventures, BlackEdge Capital, Block Dream Fund (investment institution under OKEx), LongHash Ventures and AU21 Capital. These funds will be used to further build out Convergence Finance’s ecosystem.

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