Superstate, a NYC-based blockchain powered asset management firm, raised $14M in Series A funding.
The round was co-led by Distributed Global and CoinFund, with participation from Breyer Capital, Galaxy, Arrington Capital, Road Capital, CMT Digital, Folius Ventures, Nascent, Hack VC, Modular Capital, and Department of XYZ. It previously raised a $4M Seed financing in June 2023 led by ParaFi, Cumberland, and 1kx.
The company intends to use the funds to expand their team, launch private funds to institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.
Led by CEO Robert Leshner, Superstate is an asset management firm developing regulated, self-custodied on-chain funds. These funds are designed to provide exposure to traditional assets via on-chain investment products, granting investors access to the speed, programmability, and compliance benefits of tokenization. The firm’s on-chain funds are designed to enhance investor experience with several key benefits:
- Investor-Directed Ownership: Self-custodied assets allow investors to move and settle their funds quickly, freely, and bilaterally.
- Next Generation Utility: Tokenized assets are programmable, and composable with on-chain contracts & applications. Automation and new use-cases are possible.
- Transparent, Embedded Compliance: With an on-chain fund, compliance is enforced in real-time—not after the fact. Transactions are compliant by default.
Superstate previously raised a $4m Seed financing in June 2023 led by ParaFi, Cumberland, and 1kx.
FinSMEs
16/11/2023