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Midas Capital company logo
Venture Capital
midascapital.cn

Investments

31

Portfolio Exits

1

Funds

1

About Midas Capital

Midas Capital is a Chinese venture capital & private equity firm focused on consumer services and mobile Internet.

Headquarters Location

Room 2505, South Tower, Poly International Plaza No.1 Pazhou Avenue, Haizhu District

Guangzhou, Guangdong, 510335,

China

+86(020) 2988 1086

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Latest Midas Capital News

Midas capital sees fishy flash loan activity

Jan 16, 2023

January 16, 2023 at 3:43 pm Midas Capital paused borrowing activities On Jan.15, Midas Capital, a venture capital organization that funds and supports blockchain projects to their success, announced the pause of borrowing activities on the Jarvis Polygon pool. Users were informed that the pause was due to an investigation of a suspicious transaction that involved a recently added collateral token (WMATIC_STMATIC). We've currently paused borrowing on the Jarvis Polygon pool https://t.co/jyjevMVMyF while we investigate a suspicious transaction involving a recently added collateral token WMATIC_STMATIC token was listed last week on the official Midas capital website with a supply cap of 250,000. The company discussed adding the token with its team (Jarvis network) to add new options for pool utilizers. Implementation of the supply caps was to the prevention of grand borrows against such Liquidity pool tokens and was yet enough. Source: Midas Capital Midas stated they had made a wrong judgment as they assumed that a pool comprised solely ERC20’s wrapped assets. It also believed that the previous re-entry attack wouldn’t affect them while using ‘raw call’ the chain’s native token. Midas experienced the same event before launching BNB with Ellipsis when the company highly backed LP tokens as collaterals. The confidence of their oracle emanated from the Ellipsis, which had strictly ejected the ability to conduct ‘raw call’s’. Jarvis Network had multiple bugs Ancilia, a web three partner, stated that Jarvis Network had multiple bugs. Re-entry and jFIAT token price fixing are what lead to the loan benefit. The attacker utilized the chance for re-entry during the native token WMATIC in borrowing vast bulk. The whitecap hacker later spent 270k WMATIC as collateral and minted 131JFIAT tokens. 2/ @Jarvis_Network There are multiple bugs. The loan gain are caused by re-entry and price manipulations for jFIAT tokens. Attached screen shot proved the price change(10x) after. During the native token WMATIC send, attacker use the re-entry opportunity to borrow more. pic.twitter.com/OSvsTmiFOU The attacker then generated another contract, utilized one of the ten borrowed amounts to liquidate the debt, and redeemed 103 jFIAT immediately after the price was forced and changed. There was a suspicious questionnaire with Midas price oracle. Nonetheless, the polygon implementing contract was the case of the problem. After investigating the price oracle, Ancilia recognized a price calculation to get a virtual price function that depends on self D in storage slot 0x10. The self D value is usually 0x041a1ba29495fff4fab5bc; however, it is ten times larger when the attack happened.

Midas Capital Investments

31 Investments

Midas Capital has made 31 investments. Their latest investment was in Corsair Pharma as part of their Series B on September 9, 2023.

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Midas Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/20/2023

Series B

Corsair Pharma

$23M

Yes

2

2/7/2023

Series D - II

InnerMedical

Yes

1

1/19/2023

Series F

SetPoint Medical

$80M

Yes

5

11/17/2022

Series B - III

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$99M

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10

7/6/2022

Series A

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0

Date

9/20/2023

2/7/2023

1/19/2023

11/17/2022

7/6/2022

Round

Series B

Series D - II

Series F

Series B - III

Series A

Company

Corsair Pharma

InnerMedical

SetPoint Medical

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Amount

$23M

$80M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

5

10

0

Midas Capital Portfolio Exits

1 Portfolio Exit

Midas Capital has 1 portfolio exit. Their latest portfolio exit was Zhangshang Kuaixiao on February 10, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/10/2020

Acquired

$99M

3

Date

2/10/2020

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

3

Midas Capital Fund History

1 Fund History

Midas Capital has 1 fund, including 厦门为来卓识股权投资基金合伙企业(Xiamen Weilai Zhuoshi Equity Investment Fund).

Closing Date

Fund

Fund Type

Status

Amount

Sources

厦门为来卓识股权投资基金合伙企业(Xiamen Weilai Zhuoshi Equity Investment Fund)

Closing Date

Fund

厦门为来卓识股权投资基金合伙企业(Xiamen Weilai Zhuoshi Equity Investment Fund)

Fund Type

Status

Amount

Sources

Midas Capital Team

1 Team Member

Midas Capital has 1 team member, including current Managing Director, Josh Kopelman.

Name

Work History

Title

Status

Josh Kopelman

Managing Director

Current

Name

Josh Kopelman

Work History

Title

Managing Director

Status

Current

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