BlockBeats reported on November 25 that a company called Metalayer has filed documents with the U.S. Securities and Exchange Commission (SEC) to set up a $25 million investment fund. According to informed sources, the co-founders of Metalayer are three senior individuals from Two Sigma Ventures, which is the venture capital arm of the mysterious New York-based investment firm Two Sigma.
Sources say that Metalayer completed its first fundraising round last Friday, with a committed capital of $20 million, and plans to complete the full fundraising by the end of the year. According to sources, Metalayer's initial funding comes from some executives at Two Sigma Ventures, though there will be no formal relationship between the two companies. Two Sigma is known for its hedge fund, managing approximately $60 billion in assets. Metalayer has also raised funds from other supporters, including family offices and other executives from crypto protocols.
According to LinkedIn profiles, one of the founders of Metalayer, Andy Kangpan, served as the head of digital assets at Two Sigma Ventures until August 2024. Mickey Graham was the vice president of Two Sigma Ventures until 2021, after which he joined the blockchain project Chainlink. David Winton left in 2021, previously serving as a vice president software engineer, and subsequently joined the research team at the large venture capital firm Greenoaks based in San Francisco.
Both Metalayer and Two Sigma Ventures declined to comment.