CoinFund led a $14M round for asset management firm Superstate.
Superstate has announced it has raised $14 million in a Series A funding round. The round was co-led by CoinFund and Distributed Global and attracted participation from several venture capital firms. Superstate will use the funds to expand the group, financed by private funds.
Superstate, an asset management firm seeking to modernize infrastructure for investment funds with blockchain technology, has announced that it has raised $14 million in a Series A funding round.
The funding round was led by CoinFund and Distribution Global, with participation from Galaxy Ventures, Arrington Capital, Breyer Capital, Road Capital, CMT Digital, Folius Ventures, Modular Capital, Nascent, Hack VC and XYZ Department.
The company plans to use the capital injection to hire new talent as it looks to expand its team. According to a news release released Wednesday, the finance will also include private funds aimed at institutional investors.
A post highlighting the funding round on X notes that resources will also be used for “a comprehensive, scalable, publicly-registered investment fund framework.”
2/2 This funding will help us expand our team (we're hiring!), launch a private fund for institutional investors, and create a compliant, tokenized, publicly registered investment fund framework.
— Superstate (@superstatefunds) November 15, 2023
In June of this year, Superstate submitted a regulatory approval from the US Securities and Exchange Commission (SEC) to create a short-term government bond fund on the Ethereum blockchain.
Superstate was founded by Robert Leshner, the founder of the decentralized finance (DeFi) platform Compound.
