Crypto Deal Flow: November 24–27

Let’s research activity of crypto funds, private investors and crypto startups for last 4days. Our Radar system detected 11 deals.

1. Kylin Network | $1.1m| DigiStrats, Signum Capital and others| seed

Kylin Network, a cross-chain data economy platform powered by Polkadot, has raised $1.1m from DigiStrats, Signum Capital, PNYX Ventures, AU21, Moonrock Capital, CMS, ZMT Capital, Tenzor Capital and Rarestone Capital. Previously, the team received a grant for the Web3 Grants Program.

2. Bonded Finance| ≈$1.3m| IDO

Bonded Finance, an yield and experimental DeFi product platform, appears on the Crypto Deal Flow for the third time. The project hold an IDO, about 40m tokens were sold at a price of 3 to 3.9 cents, about $1.3m was raised. The team promises to publish the exact data later. Now the token is trading just above one cent, that is, 3–4 below the price of the public round. Metrics for other rounds can be viewed here.

3. PowerKee| $437.5k|no info about investors| private round

PowerKee, an anonymous PoS consensus cryptocurrency, has previously raised $125k in a seed round. The private round is now closed. Team raised $437.5k, investors were not disclosed.

4. Yearn and C.R.E.A.M.| merger

Developers Yearn and C.R.E.A.M. teamed up to launch C.R.E.A.M. v2. As a result of the synergy, it is expected that the locked capital will increase. More details here.

5. Baanx| $500k|BnkToTheFuture| crowdinvesting

Baanx, a crypto financial services and payments network, is raising $500k through the BnkToTheFuture crowdinvesting platform, with a minimum investment of $1000. The current round has already raised $12.1m from investors this September. You can use modules (over 30 types) Baanx to build your cryptocurrency business. The current valuation of the company is $ 99m, investments are raised through convertible notes.

6. VanEck| new bitcoin ETN

Investment firm VanEck ($49 billion under management) is launching a Bitcoin exchange product on the German Xetra exchange. ETN (exchange-traded note) has the ticker VBTC and ISIN DE000A28M8D0. Net assets of the product are $1.7m for November 26.

7. Pendal Group| starts buying BTC via CME

Australian investment management company Pendal Group started investing in bitcoin through futures contracts on the Chicago Mercantile Exchange. Pendal is a global investment management company listed on the Australian Stock Exchange (ASX) under the ticker PDL. Its market capitalization is currently $ 1.6 billion.

8. Galaxy Digital | $58.7m | 2 funds

Galaxy Digital funds launched in November 2019 raised $58.7m: $55.1m was raised to Galaxy Institutional Bitcoin Fund LP from 33 investors with a minimum investment of $250k and $ 3.6m was raised to Galaxy Bitcoin Fund LP from 56 investors with a minimum investment of $25k.

9. 25 projects| $2.4m|The Ethereum Foundation| grants

The Ethereum Foundation, as part of the Ecosystem Support Program, has announced a $2.4m grant to companies working on the Ethereum blockchain. A list of 25 projects can be found here.

10. 3iQ| $50m|investors| Class A Units

3iQ announces the raising of $50m to the bitcoin fund through Class A units. The assets will be listed under the ticker QBTC on the Toronto Stock Exchange (“TSX”) of Canada after November 30th. To achieve its investment goals, the fund invests in bitcoin, acquiring them through exchanges and OTC, in order to provide investors with a convenient and secure alternative to direct investments in bitcoins.

11. Kira Network| $1.3m|public auction

Kira Network raised 2,597 ETH (about $1.3m) in a public auction. The final price for the token was $0.39. The initial estimate of capitalization for tokens in circulation is $4.86m. Previously, the project raised $2.2m in a private round. Kira will use Tendermint and the Cosmos SDK to create liquid assets for staked assets, as well as develop other DeFi products.

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