Wintermute Raises $20M in Series B Funding


Wintermute, a London, UK-based algorithmic liquidity provider for digital assets, closed a $20M Series B funding round.

The round was led by Lightspeed Venture Partners with participation from Pantera Capital, Sino Global Capital, Kenetic Capital, Rockaway Blockchain Fund, Hack VC, DeFi Alliance, Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, and Ventures. In conjunction with the funding, Jeremy Liew, Partner at Lightspeed, will join Wintermute’s Board of Directors.

Launched in 2017 and led by Evgeny Gaevoy, CEO, Wintermute is a global algorithmic liquidity provider for digital assets. The company, which also provided liquidity for some of the most prominent projects in 2020 and is planning to support many more in 2021, is currently piloting its own RFQ platform with beta counterparties and is planning to launch it for institutional players within the first quarter and is also looking to scale the derivatives business.

The company has always operated globally across venues in US, Europe and Asia, and plans to open its first international office in Singapore in the first quarter of 2021.