We’re excited to announce the close of our $115M Fund II - a continuation of our mission to back frontier tech in the blockchain industry that we see growing to as large as $15 trillion by 2030🚀. We’re focused on the biggest drivers of adoption and change, and you may have seen our early support for:
- DeFi & idle resource networks (DePIN)
- AI inference & data infra
- the Hyperliquid ecosystem

Fund II builds on our inaugural fund, launched in 2022:
- 40+ portfolio projects backed and LPs in 50+ onchain protocols with early liquidity in @pendle_fi , @GMX_IO, @MorphoLabs and others
- backed @ethena_labs, and @ResolvLabs both aligned with our conviction in dollarization of basis yield - unlocking scalable, USD-denominated returns across CeFi and DeFi
- backers of L1s like @SeiNetwork and @SuiNetwork each taking a unique approach to scalability and parallelization
- first check into @0xdrej & @grass, who are rethinking internet incentive structures and delivering the largest synthetic data + multimodal AI pipeline onchain
- backed decentralized cloud leaders like @AethirCloud and @ICN_Protocol - tiered compute and storage layers powering real-time inference and AI-native applications
We believe in the power of DeFi to disrupt and revolutionize the finance industry. That’s why we are proud to be Hyperliquid OGs as users and among the first contributors to the ecosystem:
- deployed the first native stablecoin wrapper on @HyperliquidX
- partnered with @hypurr_co in supporting Hyperliquid’s first ecosystem collective and co-hosted global events to spark the next wave of Hyperliquid builders and users across continents
- provided liquidity and collaborated closely with portcos on new and upcoming primitives on Hyperliquid, leveraging precompiles and builder codes as well as privately shielded trading flows
And we’re just getting started.
We believe mass adoption comes from solving real-world problems. We’re launching a new initiative to connect Web3 teams with global brands - driving real use cases, investment, and clear monetization paths. Stay tuned.
We are convinced that investors should do more than just write checks.
- our team blends native-crypto, tradfi and technical expertise
- we’re hands on, working to ensure founders find optimal ways to PMF and ship products used by millions
We move fast, often before a whitepaper drops
We are actively seeking high-conviction founders to tackle the equally large and potentially more impactful opportunities in the education and healthcare sectors. Also, when is the crypto community going to step up to disintermediate software middlemen such as LinkedIn, Uber, AirBnB, etc?
Are you building something ambitious? Something weird, early, and a little misunderstood?
We’d love to hear from you.
No bots, no gatekeeping. Just founders and conviction.
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