Sep 9, 2020 · 2 min read · cat
Today, we are proud to announce that Linear Finance has raised $1.8M in financing led by key strategic investors including NGC Ventures, Alameda Research, Hashed, CMS Holdings, and Genesis Block. The investment rounds were also joined by Kenetic Capital, Evernew Capital, Soul Capital, Moonrock Capital, Black Edge Capital and PANONY.
Founded and bootstrapped within a rapidly expanding DeFi ecosystem, Linear Finance is the first cross-chain compatible, decentralized delta-one asset protocol to quickly and cost-effectively, create, trade, and manage synthetic assets (Liquids).
Linear Finance will use the fresh funds to accelerate the development of both its testnet and mainnet and to deploy its go-to-market strategy this year.
“With DeFi, we are experiencing one of the most significant and important shifts in our cryptocurrency ecosystem. As we push to resolve issues we see in existing synthetic asset protocols such as poor usability, structural inefficiencies, and high systemic risk, we have selectively chosen strategic investors to partner with on our quest. Our strategic investors bring not only tactical knowledge and experience in the ever-changing DeFi space but also intelligence in areas such as financial innovation, key market expansion/adoption, and roadmaps to institutional liquidity.” said Kevin Tai, Co-Founder of Linear Finance.
“We’re excited to start the journey with Linear Finance alongside other notable investors. We are impressed by the team’s experience across both the blockchain and financial markets space. Synthetic asset creation is a key part of the DeFi ecosystem and we believe Linear will emerge as a leader in this space.” said Mr. Tony Gu, Managing Partner of NGC Ventures.
Mr. Tony Gu and Mr. Ryan Kim, Co-founder of Hashed, will join Linear’s advisory board along with investments from NGC and Hashed respectively.
Our Strategic Investors:
NGC Ventures: https://www.ngc.fund/
Alameda Research: https://www.alameda-research.com/
CMS Holdings: https://cmsholdings.io/
Genesis Block: https://genesisblockhk.com/
Kenetic Capital: https://kenetic.capital
Evernew Capital: https://evernewcap.com/
Soul Capital: https://www.soulcapital.vc/
Moonrock Capital: https://www.moonrockcapital.io/
Black Edge Capital: https://blackedge.io/