Blockchain-based asset-management firm Superstate raised $14 million in venture capital to develop regulated, on-chain funds that U.S. investors can access.
The round was led by CoinFund and Distributed Global. Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent and Road Capital Management also participated.
Superstate focuses on developing regulated, compliant investment vehicles using public blockchains that U.S-based investors are able to access. The company – helmed by Robert Leshner, founder of decentralized finance (DeFi) lending platform Compound (COMP) – has earmarked the funds for team expansion, creating private funds for institutional investors and crafting a framework for tokenized public funds.