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Asset/Investment Management
FINANCIAL | Asset/Financial Management
parafi.capital

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Investments

38

Funds

1

About ParaFi Capital

ParaFi Capital is an alternative investment firm with a focus on the fintech and blockchain ecosystem.

ParaFi Capital Headquarter Location

601 California St

San Francisco, California, 94108,

United States

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Latest ParaFi Capital News

Privacy DEX Manta Network Bags $5.5 Million in New Funding Round

Oct 21, 2021

The capital injection, led by Coinfund and Parafi Capital, featured new investors including CMS Holdings, Longhash Ventures, Divergence, Spartan Group, Global Coin Ventures, Zee Prime, SNZ, and SkyVision Capital. It also saw participation from angel investors, namely 0xMaki, Maple Leaf, Bitcoin.com, Kevin Hu, Santiago R Santos, Polygon, Cream, Alpha, Perp, DoDo, Subquery, Bitcountry, Consensys, and Impossible Finance. The privacy-oriented decentralized exchange revealed that key members from Parity and the Web3 Foundation, as well as Barry Silbert’s Digital Currency Group Inc., bankrolled the recent financing round. Manta Network has created an automated market maker (AMM)-style decentralized exchange on Polkadot that features fully private swaps. Further, the company continues to build out its commercial capabilities to deliver plug-and-play privacy functionality to a multitude of blockchain use cases and projects. With fresh capital in hand, the startup plans to sharpen its strategic focus to bolster privacy in the DeFi ecosystem, eliminate gas fees, and offer faster transactions. All of those features would translate into a better user experience in the cryptocurrency space. A parachain in the Polkadot ecosystem, Manta implements a cryptographic technique called ZkSNARKs as a layer-1 blockchain solution. By obfuscating wallet addresses, its first product MantaSwap enables the parties involved in a blockchain transaction to verify relevant data with each other without sharing the underlying details related to it. The sender, receiver and exchange amount are entirely obscured and no longer appear on public block explorers. Commenting on the news, Kenny Li, core contributor to Manta Network, said “We’re excited and proud to be joined by the most reputable thought leaders, investors, and angels in the space on our mission to privatize all crypto assets. Together, we recognize the importance of privacy in Web3, which is required to scale DeFi use cases.” Austin Barack, Principal at CoinFund, added in a joint press release: “Manta Network is building one of the core primitives for privacy preservation within DeFi. Building upon Substrate, which allows for purpose-built layer 1 networks, Manta can build ZKSnark privacy-preserving architecture directly into the base layer and solve a number of existing problems users face today such as front running and lack of privacy when making transfers or managing a portfolio. Leveraging relay chain interoperability, Manta will also be able to provide users across all Polkadot parachains with these services. We are thrilled to support this incredible team as they build much needed DeFi tooling,”  Prior to the recent funding, Manta Network raised a $1.1 million seed round in February, which was led by Polychain Capital and included investments from Hypersphere Ventures, Three Arrows Capital, Defiance Capital, Multicoin Capital, Alameda Research, BTC12 Capital, to name a few. Manta’s practical approach to building as a Polkadot parachain enables them to tackle the critical issues regarding privacy on the blockchain, ultimately offering cheaper and completely confidential transactions. The project’s underlying logic is to mint private coins/tokens with stable coins at a value ratio of 1:1. First theorized in 2020 by industry veterans, Manta Network delivered the first version of its testnet in Q1 2021. The future roadmap includes participating in the Polkadot parachain auctions to launch its mainnet before the end of the fourth quarter. Like other projects, the protocol waits for the upcoming rollout of Polkadot-based parachain auctions to grab its spot. The initial auctions approved by Polkadot’s on-chain governance will begin next month and end in March 2022.

ParaFi Capital Investments

38 Investments

ParaFi Capital has made 38 investments. Their latest investment was in Manta Network as part of their Seed VC on October 10, 2021.

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ParaFi Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/19/2021

Seed VC

Manta Network

$5.5M

Yes

2

10/13/2021

Seed VC

Jambb

$3.5M

Yes

1

9/30/2021

Series A

Gelato Network

$11M

Yes

2

9/30/2021

Seed VC

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$99M

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10

9/15/2021

Seed VC

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$99M

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10

Date

10/19/2021

10/13/2021

9/30/2021

9/30/2021

9/15/2021

Round

Seed VC

Seed VC

Series A

Seed VC

Seed VC

Company

Manta Network

Jambb

Gelato Network

Subscribe to see more

Subscribe to see more

Amount

$5.5M

$3.5M

$11M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

1

2

10

10

ParaFi Capital Fund History

1 Fund History

ParaFi Capital has 1 fund, including ParaFi Capital.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/28/2019

ParaFi Capital

2

Closing Date

6/28/2019

Fund

ParaFi Capital

Fund Type

Status

Amount

Sources

2

ParaFi Capital Team

1 Team Member

ParaFi Capital has 1 team member, including current Founder, Managing Partner, Ben Forman.

Name

Work History

Title

Status

Ben Forman

Founder, Managing Partner

Current

Name

Ben Forman

Work History

Title

Founder, Managing Partner

Status

Current

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