According to Odaily Planet Daily, Metalayer has submitted documents to the U.S. Securities and Exchange Commission (SEC) to set up a $25 million investment fund. According to people familiar with the matter, the co-founders of Metalayer are three senior people from Two Sigma Ventures. It is reported that Metalayer has completed its first fundraising 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 came from some executives at Two Sigma Ventures, though there will be no formal relationship between the two firms. Two Sigma is best known for its hedge funds, which manage about $60 billion in assets. Metalayer has also raised money from other backers, including family offices and other executives of crypto protocols.

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