This is a press release written and provided by karpatkey, and is not related to the content of this area.
Today (22), karpatkey, a leader in providing on-chain treasury management solutions for decentralized autonomous organizations (DAOs) and financial institutions, announced the successful completion of a $7 million funding round. The round was participated by over 40 angel investors and investment funds, and the funds raised will help karpatkey expand its solutions to more DAOs while accelerating its market expansion to traditional funds and financial institutions.
"We are thrilled to have attracted investment from so many of the most respected names and institutions in the crypto space, including several of our existing partners," said Marcelo Ruiz de Olano, co-founder of karpatkey. "We believe this is a validation of the quality of our solutions and reflects our commitment to building long-term partnerships with DAOs."
AppWorks and Wintermute Ventures participated in the round, along with several prominent angel investors including Joe Lubin from ConsenSys, Stani Kuchelov from Avara, Fernando Martinelli from Balancer Labs, Stefan George from GnosisDAO, Friederike Ernst and Martin Koeppelmann, Hugh Karp from Nexus Mutual, Lefteris Karapetsas from Rotki, and Marc Zeller from ACI.
Ching Tseng, Head of Web3 at AppWorks, commented on the investment:
karpatkey is building fundamental infrastructure that will enable decentralized finance to manage large-scale capital, akin to traditional treasury asset managers. We have full confidence in Marcelo's experience and leadership to turn this vision into reality.
ConsenSys founder Joe Lubin commented:
"Over the past few years, I have witnessed karpatkey emerge as a pioneering market leader in DAO treasury management. They have taken a bespoke, on-the-ground approach, deploying dedicated teams to help DAOs increase revenue, expand partnerships, solve technical issues, and mitigate risks. Ultimately, this has not only brought long-term sustainability to DAOs, but also fueled tremendous growth for karpatkey's business."
karpatkey was initially founded in 2020 to manage the treasury of Gnosis, and the company now provides a suite of sophisticated financial solutions to some of the most successful organizations in the crypto space, including Aave, Balancer, CoW, ENS, Lido, and Safe. As an active treasury asset manager, karpatkey is deeply involved in protocol governance and collaborates with partners on various strategic initiatives.
karpatkey's treasury network has grown to over $1.8 billion in assets, and its risk management framework has executed over 10,000 on-chain transactions for its partners without any incidents.
"We were one of the first companies in crypto to actively manage DAO treasuries, and we remain the largest treasury manager, far exceeding our competitors," emphasized Marcelo Ruiz de Olano. "To achieve this, we had to build expertise in many areas beyond traditional asset management. A typical karpatkey treasury management service includes business development, risk management, legal advisory, and M&A support. These solutions and services are what we hope to bring to more users with the help of our investors."
karpatkey also plans to expand its solutions beyond DAOs, targeting traditional financial institutions. The first focus will be on actively managed open-end funds, where karpatkey will leverage its existing infrastructure to provide institutional investors with opportunities in blue-chip DeFi tokens and yields, at highly competitive prices. "We have always believed that karpatkey can serve as a critical liquidity bridge between traditional finance and DeFi, benefiting our partners, investors, and the entire crypto community," Marcelo Ruiz de Olano stated.
