May 4, 2021 – Hong Kong, Hong Kong
Formation Fi, a startup aiming to revolutionize DeFi portfolio construction, has completed $3.3 million in a strategic sale round.
The platform garnered participation by the founders of groundbreaking DeFi protocols such as Bancor, Synthetix and Polygon (formerly known as Matic), collectively managing over $6 billion in TVL, as well as venture capital funds including Kenetic, Kosmos, Spark Digital Capital, AU21, X21 Digital, Momentum 6, MarketAcross, GenBlock, GBV Capital, Shima Capital and Brilliance ventures.
A further 18 top-tier investors also contributed to the completely oversubscribed round, with capital earmarked for the development of Formation Fi’s risk parity protocol, the first chain-agnostic, algorithmic yield-management platform guided by the principles of the risk parity movement adopted by top hedge funds on Wall Street.
Formation Fi has dubbed the concept ‘smart farming