On November 25, PANews reported that Metalayer, a crypto investment company founded by three former executives of Two Sigma Ventures, has submitted documents to the U.S. Securities and Exchange Commission, planning to raise a $25 million crypto venture fund. Sources revealed that the fund completed its first round of fundraising last Friday, securing $20 million in committed capital, with the goal of completing the entire fundraising by the end of the year.
The founding team of Metalayer includes Andy Kangpan, former head of digital assets at Two Sigma Ventures, former vice president Mickey Graham, and former vice president of software engineering David Winton. Although it received initial support from some former Two Sigma executives, Metalayer has no formal relationship with Two Sigma. Additionally, the fund has attracted investments from family offices and executives of crypto protocols.
Metalayer's investment focus is on the intersection of cryptocurrency and traditional financial services. It has currently invested in three companies, including the 'Synthetic Dollar' project Ethena, a crypto exchange for institutions called Crossover, and a blockchain settlement platform named Clear Token.