July 29, 2024
Mezo, a Bitcoin scaling network established by the venture studio Thesis, has successfully secured $7.5 million in a strategic funding round spearheaded by Ledger Cathay Fund. The funding round also saw participation from other investors such as ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol, and Mantle EcoFund, an ecosystem project of Bybit, as announced by Thesis on Friday.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Mezo | $7.5M | July 26, 2024 | Strategic Funding | $30M | Ledger Cathay Fund | Bitcoin |
This strategic funding follows Mezo's emergence from stealth mode three months ago with a funding of $21 million led by Pantera Capital, bringing its total capital to $30 million. Matt Luongo, the founder of Mezo and CEO of Thesis, mentioned that there were additional investments made after the last announcement that were not part of this strategic round.
Luongo disclosed that the fundraising for this strategic round started about a month ago and was concluded last week. However, he chose not to comment on the structure and valuation of the round.
About Mezo
Mezo is a permissionless Bitcoin Economic Layer. It enhances the Bitcoin ecosystem by offering improved scalability and utility, all while maintaining the decentralized ethos of Bitcoin. Mezo leverages a neutral smart contract infrastructure to provide a diverse range of user-centric applications. By building on tBTC, Mezo facilitates more reliable and secure bridging between Bitcoin and other blockchain networks. This innovative platform is designed to amplify the capabilities of Bitcoin and broaden its use cases in the digital economy.
Website: https://mezo.org/
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About Investor
Investor: Ledger Cathay Fund
Ledger Cathay Capital is a €100 million investment fund dedicated to supporting Web3 entrepreneurs at the Seed & Series A stage. The fund is a joint venture led by Cathay Innovation’s Denis Barrier and Ledger’s Pascal Gauthier and Michael Louzado, and is backed by Bpifrance. It invests globally in Seed to Series A companies that are focused on emerging DeFi, security, infrastructure, digital ownership technologies, protocols, and more.
The fund offers entrepreneurs the value of a leading global investment platform combined with the support of a world-leading Web3 security platform. It unlocks global resources and networks, providing creators and founders with capital, tools, and unmatched industry access to innovate at scale from the very start. The fund believes in a future where people truly own their digital assets and interact with Web3 and the Metaverse with full control and security
Location: Paris, Ile-de-France, France
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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