Solrise Finance Raises $3.4M for Non-Custodial Protocol on Solana

Solrise Finance, a fund management and investment protocol based on Solana, said it raised $3.4 million in a funding round that included Alameda Research.

CMS Holdings, Delphi Digital, Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures and Skyvision Capital also invested in a fund management.

Solrise Finance says it allows users to allocate capital across actively managed funds, helping make DeFi more accessible to wider investor audiences. It says its platform helps lower transaction costs.  And also allows users to create their own funds with exposure to assets from across Solana.

The firm said:

“Unlike more traditional investment avenues, Solrise’s non-custodial nature means that fund managers never directly own investor funds, while investors are free to enter and exit funds on their own schedule.”

The Solana ecosystem is heavily backed by Sam Bankman-Fried, the CEO and founder of crypto derivatives exchange FTX and Alameda Research.

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