Jet Raised $6.8M Follow-on Round with Paradigm, Reciprocal Ventures, Solana Ventures
Jet is a decentralized borrowing and lending protocol built for speed, power, and scalability on Solana, has raised a $6.8M Follow-on Round with Paradigm, Reciprocal Ventures, Solana Capital, GSR, Three Arrows Capital, Ascendex, Republic Capital, SkyVision Capital (SVC), and TPS Capital.
— Georgios Konstantopoulos, Research Partner at Paradigm
“Lending & borrowing are core primitives of DeFi infrastructure. Jet has one of the strongest and most experienced teams in crypto, and we’re incredibly excited to help them build out the Solana ecosystem.”
— Raj Gokal, COO at Solana Labs
Decentralized borrowing and lending is a core component of DeFi, and Jet Protocol has been built to take advantage of the speed and throughput offered by Solana. I’m glad to see teams of this caliber with a strong commitment to open-source development continuing to choose Solana.
Latest Investors:
Paradigm is an investment firm focused on supporting the great crypto companies, protocols, and currencies of tomorrow. Their approach is flexible, long-term, multi-stage, and global. Paradigm often gets involved at the earliest stages of formation and supports their portfolio with additional capital over time. They take a deeply hands-on approach to help projects reach their full potential, from the technical (mechanism design, smart contract security, engineering) to the operational (recruiting, communications).
Reciprocal Ventures backs visionary entrepreneurs who are building the foundational protocols and applications of the decentralized web. Reciprocal acts as an extension of the teams they partner with, working side by side with portfolio companies on every aspect of development, such as token economics, active network participation, and decentralized governance.
Solana Capital is the strategic investment arm of Solana Labs. Solana Capital’s mission is to provide capital and resources to the most promising teams building on Solana and the broader digital asset and blockchain ecosystem, typically at pre-seed and seed stages.
GSR was founded in 2013 and is a global leader in digital asset trading, specializing in providing liquidity, risk management, and structured products to global participants in the digital asset ecosystem. GSR’s team of veteran finance and technology executives from Goldman Sachs, Two Sigma, Citadel, IBM, and Oracle, among others, has developed one of the world’s fastest and most robust trading platforms. They work with issuers, traders, investors, miners, and exchanges around the world.
Three Arrows Capital Three Arrows Capital is a hedge fund manager established in 2012 by Su Zhu and Kyle Davies.
Ascendex (formerly BitMax) Investments is the research and investment arm of AscendEX, a global cryptocurrency financial platform. AscendEX Investments’ mission is to invest alongside innovative, early-stage blockchain projects to design and build sustainable businesses within the digital asset ecosystem.
Republic Capital was established in January 2019. They select investments based on business fundamentals with a focus on unit economics and resilient revenue. Their portfolio companies are poised not just to withstand a downturn, but to emerge even stronger. In other words, companies that don’t need endless venture capital to survive.
SkyVision Capital (SVC) is a venture capital fund founded with the mission of promoting innovative decentralized technology and facilitating its adoption in mainstream communities. The SVC team is an early-stage investor and strategic adviser of cryptocurrency projects that aim to revolutionize and fundamentally enhance markets across the DeFi, NFT, and GameFi sectors.
TPS Capital is a proprietary trading firm, providing trading and advisory services for the DeFi, gamefi, and digital art subsectors in the digital asset space.
⏩ SOURCE