June 05, 2024
M^0 Labs, a decentralized dollar minting protocol, has successfully raised $35 million in a Series A funding round led by Bain Capital Crypto. Other notable investors in this round included Galaxy Ventures, Wintermute Ventures, GSR, Caladan, and SCB 10X.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
M^0 | $35M | June 05, 2024 | Series A | $57.5M | Bain Capital Crypto | DeFi |
The funding process began in late January and concluded in early May. M^0 structured the round by issuing two “governance tokens,” namely POWER and ZERO, to investors. These tokens are subject to a lock-in period, aligning with prudent business and regulatory practices.
While the valuation remains undisclosed, this Series A round follows M^0’s successful $22.5 million seed funding round led by Pantera Capital in April 2023. With this latest funding, M^0’s total funding now stands at $57.5 million, reflecting strong demand and investor confidence.
About M^0
M^0 is an Ethereum-based stablecoin minting protocol that allows approved entities to create a stablecoin called M. This stablecoin is “overcollateralized by U.S. Treasuries only.” To mint M, entities require permission from the protocol’s governance. Once approved, they provide their own standardized “high-quality” collateral, which independent validators verify to ensure it meets the specified standards.
The M^0 protocol has already been deployed on the Ethereum mainnet and is set to go live soon. The first minter and validator have received approval, although specific details will be disclosed later. Any entity seeking permission to become a minter must undergo governance approval and adhere to M^0’s forthcoming "adopted guidance"
Website: https://www.m0.org/
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About Investor
Investor: Bain Capital Crypto
Bain Capital Crypto is a purpose-built investment platform that supports crypto and Web3 builders from seed to growth stages. Emerging from Bain Capital Ventures, which has actively invested in crypto space since 2015, this dedicated team consists of hackers, tinkerers, and builders. They approach projects with a deeply technical and collaborative mindset. Their mission is to back renegades and pioneers building the next generation of open internet infrastructure.
Location: Boston, MA
Website: https://baincapitalcrypto.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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