Thesis Raises $ 21 Million Series A To Expand Crypto Venture Studio | New

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SAN FRANCISCO, July 22, 2021 (GLOBE NEWSWIRE) – Thesis today announced that it has completed a Series A fundraiser of $ 21 million. Thesis is the business creator behind some of crypto’s most impactful projects. Its portfolio includes Fold, Keep, Saddle, and open source initiatives like tBTC that serve millions of users and hold over $ 300 million in total locked-in value (TVL). Investors in the cycle include ParaFi Capital, Nascent, Fenbushi Capital, Polychain Capital and Draper Associates among a wide range of other ecosystem operators including Kain Warwick, James Prestwich, Viktor & Lisa Bunin and Josh Cincinnati.

Founded in 2014, Thesis brings together the brightest minds to identify, develop and build the best decentralized technologies. The Thesis team has designed a winning model to identify market needs in three areas of intervention: decentralized finance (DeFi), interoperability between chains and consumer applications to drive mass adoption. Thesis builds and launches projects that serve as fundamental pillars of the crypto ecosystem through a unique approach to identify the most compelling use cases, delve deeper into sophisticated technical concepts, and cultivate stellar leadership in their founders. Fold, the world’s first Bitcoin-backed rewards card with over $ 20 million in sales activity per month, raised a total of $ 20 million and partnered with Visa to bring Bitcoin to consumers and promote the massive adoption of cryptocurrencies. Saddle is an automated market maker optimized for trading between fixed value crypto assets with 110.7 million TVL. Projects like Keep and tBTC position Thesis at the heart of Bitcoin on Ethereum, serving as a protocol and underlying asset that play a key role in driving the $ 54.0 billion DeFi ecosystem. In order to increase opportunities for cross-market impact and value creation, Thesis builds complementary and interoperable projects with other projects in its portfolio.

Fundraising for a business creator requires investments from partners aligned with their mission and sharing a vision for the future of the industry. In order to build for the next generation of crypto users, Thesis has cultivated a network of technologists, entrepreneurs and investors working towards a common mission: to use decentralized technology to strive for the integrity and empowerment of the individual.

Thesis Founder and CEO Matt Luongo has led the studio since its inception and plans to use this investment as a catalyst to further grow the ecosystem and launch new Thesis projects. We are thrilled to be backed by a collective of like-minded investors who are developing technology that will drive critical change towards end-user empowerment. This investment validates the thesis model and will allow us to evolve the studio and ultimately allow our operation to be self-sufficient in the years to come, said Luongo.

Thesis adds ParaFi, Nascent, Fenbushi and others to its list of existing investors such as Polychain Capital, Andreessen Horowitz, and Paradigm.

Thesis is one of the best recurring builders in our ecosystem, leveraging their cryptography expertise to bring technology to market that plays a central role in making cryptography more dynamic and accessible. We are delighted to partner with Thesis as a go-to incubator for the most impactful and mission-aligned crypto projects and support them in their next phase of growth, ”said Santiago Roel Santos, Partner at ParaFi Capital.

Building a successful product, business, or protocol is difficult in any ecosystem, and doing it multiple times across multiple verticals is very rare. Matt and the Thesis team combined their deep technical and industry knowledge with a strategic vision to create a new business studio model that has enabled them to repeatedly innovate and expand the Thesis ecosystem. At Nascent, we are excited to invest in and support this team as they continue to innovate and define new categories within our space, said Dan Elitzer, co-founder of Nascent.

In the coming months, Thesis will launch its fifth studio project, a Web3 portfolio. In its continued growth, Thesis seeks engineers, designers and product thinkers to bring its decentralized technologies to life.

For more information, please visit Thesis.co.

About Thesis Thesis is a group of engineers, designers and visionaries bound by the common belief that there is a better way to build the systems that power our world. The venture studio creates decentralized, unauthorized tools and platforms that provide control and privacy to the individual. With half a million users, an engaged global community, and dynamic partners, the Thesis Portfolio offers a robust and growing suite of powerful applications that drive adoption of cutting-edge crypto technology.

Media contact Kara Miley, [email protected]

Copyright 2021 GlobeNewswire, Inc.

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