July 09, 2024
Term Labs, Inc., a pioneering firm in blockchain research and development, declares the successful completion of a strategic funding round that raised $5.5 million. This has increased the company's total funding to $8 million to date. Electric Capital spearheaded this round, with contributions from Maelstrom (Arthur Hayes), Ava Labs Blizzard Fund, Arete Capital, Inception, Delta Blockchain Fund, and others.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Term Labs | $5.5M | July 09, 2024 | Strategic Funding | $8M | Electric Capital | DeFi |
Notable angel investors such as Mike Silagadze, the founder and CEO of Ether.fi, Danish Chaudhry, the GP and Founder of Paper Ventures, Steve Lee, the Founder and Managing Partner of Neoclassic Capital, Ledger Status, the Co-host of Up-Only, Eric Conner, the Co-host of Into The Ether Podcast, and DeFi Dad, the Co-host of The Edge Podcast, also participated in the round.
Term Finance stands as the first DeFi fixed-rate lending protocol to function effectively on an institutional scale. Since its establishment last year, Term Finance has facilitated over $100 million in volume via its auction-based fixed-rate lending platform, maintaining consistent weekly clearing volumes in the seven-figure range. Its auction-based mechanism has demonstrated its effectiveness in establishing fair rates, consistently balancing between the supply and borrow rates on rival variable rate lending protocols. Consequently, Term borrowers have saved hundreds of thousands in interest, while lenders have profited hundreds of thousands more.
About Term Labs
Term Labs is a company specializing in blockchain R&D, committed to developing sturdy, transparent, and scalable onchain fixed-rate lending solutions. The collective expertise of the founding team in finance and big tech forms the bedrock of its innovative approach to decentralized finance (DeFi) solutions. The founders have a proven history of managing portfolios exceeding $1 billion on both the sell side and buy side at institutions like Citibank, Morgan Stanley, and D.E. Shaw. They have also set interest rate benchmarks at exchanges with trillions in volume. In addition, they possess significant technical experience, having worked at the Amazon blockchain group, Bloomberg, and Planet Labs.
Website: https://www.term.finance/
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About Investor
Investor: Electric Capital
Electric Capital is a venture capital firm that focuses on accelerating disruptive innovations in the crypto and Web3 sectors. The team at Electric Capital has collectively started eight companies, shipped products for billions of users, run billion-dollar business units, invested in over 100 technology startups with a cumulative market cap of over $50B, and traded billions in derivatives.
The firm invests in both liquid and illiquid tokens that are emerging stores of value and rooted in novel technology. They have a deep understanding of community governance, token economics, cryptography, and distributed systems. Electric Capital invests in cryptocurrencies, blockchain-based businesses, fintech companies, and marketplaces5.
Their portfolio includes investments in the next generation of iconic founders in crypto and Web3. They have also released a developer report, providing insights and updates on the crypto ecosystem. Electric Capital is led by a team of technology entrepreneurs, engineers, and successful investors.
Location: Upper Marlboro, MD
Website: https://www.electriccapital.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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