Exclusive: Veterans of Two Sigma Investment Firm Raising $25M Crypto Venture Fund
A new player has entered the crypto investment scene as Metalayer, a blockchain-focused firm, recently filed paperwork with the Securities and Exchange Commission detailing its plans for a $25 million investment fund. Founded by three veterans of Two Sigma Ventures, Metalayer has already secured $20 million in committed capital with plans to raise the full amount by the end of the year.
The founders of Metalayer, Andy Kangpan, Mickey Graham, and David Winton, all have extensive experience in the finance and tech industries. Kangpan previously served as the digital asset lead at Two Sigma Ventures, while Graham worked as the vice president until 2021 before transitioning to work on the blockchain project Chainlink. Winton, a former VP software engineer at Two Sigma Ventures, later joined the research team at Greenoaks, a prominent venture firm based in San Francisco.
Metalayer has already made investments in three exciting companies, including Ethena, a project focused on yield-bearing synthetic dollars, Crossover, an institution-only crypto exchange, and Clear Token, a blockchain clearinghouse. These investments showcase Metalayer’s focus on the intersection of crypto and traditional financial services.
Despite a recent downturn in crypto venture activity, Metalayer’s fundraising efforts are part of a larger trend, with other firms closing significant funding rounds. While major cryptocurrencies like Bitcoin and Solana have seen price increases, Metalayer’s entry into the market comes at a challenging time for Two Sigma, its founders’ former employer, which recently underwent restructuring and staff reductions.
As the blockchain industry continues to evolve, Metalayer’s innovative approach to investing in crypto projects aligned with traditional finance sets it apart in the competitive investment landscape. Stay tuned for more updates on Metalayer’s progress and the exciting developments in the world of blockchain and finance.
