DeFi on Solana: Solrise raises $3.4M for non-custodial asset management

DeFi on Solana: Solrise raises $3.4M for non-custodial asset management

Solrise Finance, a DeFi protocol for the Solana network, has successfully concluded a $3.4 million raise for its non-custodial asset management platform, offering further evidence that the venture capital world continues to seek broad exposure to the digital asset market.

Some of the biggest venture capital names in blockchain supported the Solrise funding round, including Alameda Ventures, Delphi Digital and CMS Ventures. Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures and Skyvision Capital rounded out the participants.

The capital raise will go towards making DeFi more accessible to a wider class of investors, Solrise announced Tuesday. This includes reducing adoption barriers like high transaction costs and a lack of clarity around custody solutions. Specifically, Solrise will provide investors with more streamlined access to “cross-section assets,” including synthetic, Solana native and off-chain assets.

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Santiago Santos, a general partner at Parafi Capital, said Solrise is his company’s first, but certainly not last, DeFi investment in Solana, adding:

“We’re encouraged by the new possibilities

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