Karpatkey closes $7 million funding round to expand DAO treasury services
Quick Take Karpatkey, an onchain treasury management solutions provider for DAOs, has closed a $7 million funding round. Karpatkey plans to expand services to more DAOs and extend outreach to traditional financial institutions.
Karpatkey, an onchain treasury management solutions provider for DAOs, has announced a $7 million funding round.
The newly acquired funds are earmarked to expand karpatkey’s service offerings to more DAOs and accelerate its outreach to traditional financial institutions.
Investors in this round include AppWorks Ventures and Wintermute Ventures, alongside a cadre of prominent angel investors like Joe Lubin from ConsenSys, Stani Kuchelov from Avara, and Fernando Martinelli from Balancer Labs, among others.
Launched within GnosisDAO in 2021, karpatkey became an independent entity earlier this year after the former had voted to spin off the onchain treasury manager as an independent entity.
The karpatkey treasury network has grown to over $1.8 billion in assets, and its risk management infrastructure has been used to execute over 10,000 onchain transactions for partners without incident. It has worked with high-profile clients in the crypto space, such as Aave, Uniswap, ENS, and MakerDAO.
“We were one of the first active DAO treasury managers in crypto and remain today the largest, by far,” noted Marcelo Ruiz de Olano. “To achieve that, we had to build expertise in many areas outside traditional asset management. A typical karpatkey treasury management engagement includes support with business development, risk management, legal consulting, M&A, and more.”
Karpatkey was formed in 2020 to manage the Gnosis treasury and has since evolved to offer complex financial solutions to prominent crypto organizations such as Aave, Balancer, and Lido. As an active manager, Karpatkey is deeply engaged in protocol governance and strategic initiatives with its partners. Karpatkey’s treasury network currently manages assets valued at over $1.8 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the "Black Week" for tech stocks, Wall Street calls for "bottom fishing"
Morgan Stanley has made it clear that "the next two to three weeks are the time to increase positions." Ed Yardeni characterizes the current downturn as a "correction" rather than the bursting of a bubble. Major Wall Street institutions have an average year-end target for the S&P 500 of 7,973 points. However, most strategists believe that the direction of AI policy remains the largest variable.
CoreWeave writes to Texas governor-elect seeking "data center consultation"
In this open letter, Michael Intrator stated that CoreWeave "strongly supports" Hinojosa's principled position that the growth of data centers must benefit the people of Texas. "We welcome the opportunity to work with your transition team to responsibly advance approved projects and to establish clear and lasting standards for future developments," he said.
What Would Bitcoin Look Like Without the Trump Effect?
Crypto prices
More
