Insider: Metalayer Plans to Establish a $25 Million Crypto Venture Fund

On November 25, according to Fortune magazine, a company called Metalayer submitted documents to the U.S. Securities and Exchange Commission (SEC) to establish a $25 million investment fund. According to insiders, Metalayer's co-founders are three senior individuals from Two Sigma Ventures, which is the venture capital arm of the mysterious investment firm Two Sigma based in New York. Insiders stated that Metalayer completed its initial fundraising last Friday with a committed capital of $20 million and plans to complete full fundraising by the end of the year. According to insiders, Metalayer's initial funding comes from some executives at Two Sigma Ventures, although there will not be a formal relationship between the two companies. Two Sigma is known for its hedge funds, managing approximately $60 billion in assets. Metalayer has also raised funds from other supporters, including family offices and other executives in the crypto protocol. According to LinkedIn profiles, one of Metalayer's founders, Andy Kangpan, served as the head of digital assets at Two Sigma Ventures until August 2024. Mickey Graham served as vice president at Two Sigma Ventures until 2021 before joining the blockchain project Chainlink. David Winton left in 2021, previously serving as vice president of software engineering, and then joined the research team of the large venture capital firm Greenoaks based in San Francisco. Both Metalayer and Two Sigma Ventures declined to comment.