Veterans from Two Sigma Investment Firm launching $25 million Crypto Venture Fund
A new player in the crypto venture scene, Metalayer, is making waves with plans for a $25 million investment fund. Founded by three veterans of Two Sigma Ventures, a well-known VC arm, Metalayer has already secured $20 million in committed capital with plans to reach the full amount by the end of the year.
The founders of Metalayer include Andy Kangpan, who previously led digital assets at Two Sigma Ventures, Mickey Graham, who served as vice president, and David Winton, a former VP software engineer. While Metalayer has received initial funding from senior Two Sigma Ventures executives, the two firms will not have a formal relationship.
Metalayer is not alone in exploring the crypto space, as Two Sigma Ventures has been active in the industry as well, particularly with investments in Web3 projects like Pyth and Omni. Metalayer, on the other hand, has already invested in projects like Ethena, Crossover, and Clear Token, focusing on the intersection of crypto and mainstream financial services.
Despite a recent slump in overall crypto venture activity, Metalayer’s fundraising efforts are a testament to the sustained interest in the crypto market. While companies like Lennertz and Accolade have successfully closed fundraising rounds recently, Two Sigma, the former employer of Metalayer’s founders, recently underwent staff cuts and leadership changes.
As Metalayer navigates the evolving landscape of the crypto market, its unique position as a new player with experienced founders from Two Sigma Ventures brings a fresh perspective to the industry. Keep an eye on Metalayer as they continue to make waves in the crypto venture space.
