15m Series Pantera Capitalmcsweeney TheBlock has led a $15 million Series A round for ShapeShift, and will use the funds to improve the company’s platform and network. The startup has already added a Matcha token search service, but it plans to integrate additional chains and invest in cross-chain functionality. It is also planning to expand its 0x API service, which powers the ShapeShift exchange.
Exchange Protocol & Decentralized Exchange Infrastructure
15m Series Pantera Capitalmcsweeney TheBlock led a $15M Series A equity round for 0x Labs, a startup behind the 0x exchange protocol and also decentralized exchange infrastructure. The startup plans to use the money to expand its team and improve its network and also platform. In addition, it plans to expand its range of assets. The company frames its efforts as a way to provide a more transparent financial system.
Standardization of NFT Tokens
15m Series Pantera Capitalmcsweeney TheBlock has been instrumental in the development of the Ethereum protocol and also has contributed to the standardization of NFT tokens. The startup plans to build out a decentralized ecosystem around the NFT token, and has already integrated Matcha token search into its platform. It is also planning to extend its 0x API service and expand its integration with ShapeShift exchange.
Leading Crypto Hedge Fund
Pantera Capital is a leading crypto hedge fund. The fund launched when Bitcoin was worth $65 and currently manages over $4.5 billion in assets. It invests in early stage tokens, early-stage firms, and also digital assets. The company hopes to attract institutional investors to invest in the space.
Target Revenue-Generating Blockchain Companies
Pantera has already disclosed its plans to invest in more blockchain startups. It has also announced plans to launch another blockchain funding round in 2023 and a larger growth-stage fund in 2024. The Pantera Capital Select Fund will target revenue-generating blockchain companies. The funds raised will help these companies continue to develop.
0x Labs is the startup behind the 0x exchange protocol, a decentralized exchange infrastructure. Pantera Capital led the Series A equity round. The company plans to expand its services and focus on creating a global exchange infrastructure. It also plans to develop a trading desk and a professional aggregation service. Its 0x Protocol enables peer-to-peer trading on the Solana and Ethereum blockchains. It is currently used by Coinbase’s NFT marketplace. It’s open source, decentralized protocol is designed to create an inclusive financial system and also empower anyone to create financial applications.
The $15 million Series A round led by Pantera Capital will allow 0x Labs to scale its team and extend its platform. This money will allow the company to continue its development of the 0x Protocol and extend it to other assets. The funding will also be used to further improve 0x’s matching platform and API service.
Institutional Asset Manager
Pantera Capital is an institutional asset manager focused on blockchain-based investment. It currently runs five funds, including a series that invests in equity and early-stage digital tokens. It is open only to accredited investors. Pantera has handled $2.7 billion of orders for its own funds. The fund focuses on projects that can create decentralized exchange infrastructure.
Fund’s Portfolio
Pantera’s blockchain fund has invested in 44 early-stage token projects and 26 venture equity deals. The fund’s portfolio includes companies like Aurora, which provides Ethereum compatibility and scalability for smart contracts on the NEAR blockchain. Pantera also invested in VALR, a South African cryptocurrency exchange that recently raised $50 million.
Mcsweeney theBlock is a decentralized open source protocol that aims to make financial applications easier to develop. Its founder Michael McSweeney has worked on several projects in the past and is passionate about the future of crypto currencies. The company plans to expand internationally and hire more employees using the new funding. It is backed by Pantera Capital, a venture capital firm that has invested in over 24 startups.
Final Words:
The new funding round will be used to build teams, develop consumer-facing applications, and provide liquidity to non-custodial decentralized exchanges. The funds will also be used to build infrastructure. The company plans to expand its Matcha product. The company’s initial target is to raise $200 million and invest in three growth-stage deals. It already has investments in several companies including the Amber crypto investment gateway, an Indian exchange, and Mcsweeney theBlock.
