Thesis, a cryptocurrency venture production, has raised US$21 million in a Series A funding round as it plans to launch new projects.
Thesis is the venture builder behind some of the most impactful projects in crypto space. Its portfolio includes Fold, Keep, Saddle and open source initiatives like tBTC that serve millions of users and hold over $300M in total value locked (TVL).
The investment round was co-led by ParaFi Capital and Nascent, with participation from Fenbushi Capital, Polychain Capital, and Draper Associates.
Angel investors, including Synthetix founder Kain Warwick, Summa (acquired by Celo) founder James Prestwich, and Bison Trails (acquired by Coinbase) protocol specialist Viktor Bunin, and Josh Cincinnati also participated in the round.
Investors are highly confident on the future prospects of Thesis. Both the lead investors of this funding round have shown strong confidence in the team at Thesis.
Santiago Roel Santos, Partner at ParaFi Capital, commented:
“Thesis is one of the best repeat builders in our ecosystem, leveraging their early crypto expertise to bring to market technology that plays a pivotal role in making crypto more dynamic and accessible. We’re excited to partner with Thesis as the go-to incubator for the most impactful, mission-aligned projects in crypto and support them in their next phase of growth.”
Dan Elitzer, Co-Founder at Nascent, said:
“Building a successful product, company, or protocol is difficult in any ecosystem, and doing so repeatedly across multiple verticals is very rare. Matt and the Thesis team have paired their deep technical and industry knowledge with strategic foresight to build a novel venture studio model that has repeatedly allowed them to break new ground and expand the Thesis ecosystem. We at Nascent are thrilled to invest in this team and support them as they continue to innovate and define new categories within our space.”
Thesis announced that it will launch its fifth studio project, a Web3 wallet, in the coming months.
