Jet Announces $6.8 Million Follow-on Round with Paradigm, Reciprocal Ventures, Solana Ventures and more

James Ryan Moreau
Nov 8 · 4 min read

Adding Jet Fuel To Boost Our Product Roadmap

“Lending & borrowing are core primitives of DeFi infrastructure. Jet has one of the strongest and most experienced teams in crypto, and we’re incredibly excited to help them build out the Solana ecosystem.” — Georgios Konstantopoulos, Research Partner at Paradigm

Earlier this year we were lucky enough to have an amazing cast of VC’s and angels join our seed round, which helped us spend much needed time and resources hiring world-class talent to build the Jet Protocol that you see now on mainnet today. Since then, we’ve identified additional destinations we want to set course to. We’re not just doing cross-margin borrowing and lending better, but have brought on on additional strategic investors to help usher more of Jet’s protocol, governance and extensible product ideas into the real world.

Decentralized borrowing and lending is a core component of DeFi, and Jet Protocol has been built to take advantage of the speed and throughput offered by Solana. I’m glad to see teams of this caliber with a strong commitment to open-source development continuing to chose Solana. — Raj Gokal, COO at Solana Labs

As we move into this next exciting leg of our journey post mainnet and JET token launch, we’re thrilled to partner with our new investors who have committed $6.8 million in capital.

Our Latest Investors:

Reciprocal Ventures backs visionary entrepreneurs who are building the foundational protocols and applications of the decentralized web. Reciprocal acts as an extension of the teams they partner with, working side by side with portfolio companies on every aspect of development, such as token economics, active network participation, and decentralized governance.

Solana Capital is the strategic investment arm of Solana Labs. Solana Capital’s mission is to provide capital and resources to the most promising teams building on Solana and the broader digital asset and blockchain ecosystem, typically at pre-seed and seed stages. For additional information, please visit https://solanacapital.com/.

GSR was founded in 2013 and is a global leader in digital asset trading, specializing in providing liquidity, risk management and structured products to global participants in the digital asset ecosystem. GSR's team of veteran finance and technology executives from Goldman Sachs, Two Sigma, Citadel, IBM and Oracle, among others, has developed one of the world's fastest and most robust trading platforms. They work with issuers, traders, investors, miners and exchanges around the world.

Three Arrows Capital Three Arrows Capital is a hedge fund manager established in 2012 by Su Zhu and Kyle Davies.

Ascendex (formerly BitMax) Investments is the research and investment arm of AscendEX, a global cryptocurrency financial platform. AscendEX Investments’ mission is to invest alongside innovative, early-stage blockchain projects to design, and build sustainable businesses within the digital asset ecosystem.

Republic Capital was established in January 2019.They select investments based on business fundamentals with a focus on unit economics and resilient revenue. Their portfolio companies are poised not just to withstand a downturn, but to emerge even stronger. In other words, companies that don’t need endless venture capital to survive.

SkyVision Capital (SVC) is a venture capital fund founded with the mission of promoting innovative decentralized technology and facilitating its adoption in mainstream communities. The SVC team is an early stage investor and strategic adviser of cryptocurrency projects that aim to revolutionize and fundamentally enhance markets across the DeFi, NFT and GameFi sectors.

TPS Capital is a proprietary trading firm, providing trading and advisory services for the defi, gamefi and digital art subsectors in the digital asset space.

Disclaimer: The statements, proposals, and details contained above are informational only, and subject to change. We are in early stage development and may need to change dates, details, or the project as a whole based on the protocol, team, legal or regulatory needs, or due to developments of Solana.

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Jet Protocol

A lending protocol built by DeFi users for DeFi users