Scallop Investors Overview Q1 2024
At Scallop, we are committed to building the next-generation money market on Sui, by setting new ecosystem standards with institutional-grade quality, seamless composability, and robust security.
More than just a money market, Scallop offers the most lending & borrowing rates that are closest to the market demands, AMM, and asset management tools amongst many other services. Led by Founder and CEO Kris, the efforts and contributions of the Scallop team have brought Scallop to achieve many new milestones, including being the first DeFi protocol to achieve an All Time High TVL of $160M.
One of our major milestones this year would be to close off our Q1 2024 Strategic Investment Round with a total of $3 Million raised from various major institutions and VCs. We would like to give a special shoutout and thank all of our investors who have strongly supported us all this while, greatly contributing to Scallop’s achievements.
In this article, we will showcase all of Scallop’s major investors and backers. Let’s dive in:
CMS Holdings, LLC
CMS Holdings, LLC is one of the investment co-leads for Scallop’s Q1 2024 Strategic Investment Round. CMS Holdings is a significant investment company that focuses on the entire crypto asset ecosystem, fully supporting blockchain and DeFi projects.
CMS Holdings was co-founded in 2019 by Dan Matuszewski and Bobby Cho. Bobby Cho had a previous background working at Paxos Trust Company and DRW Crypto Trading Division Cumberland, and co-founder Dan Matuszewski had previously worked at Circle. The CMS Holdings team come from a diverse range of backgrounds and fields, extensive investment experience, and professional technical experts. They have invested in over 120 on-chain companies, including well-known on-chain projects and institutions such as Monad, Sanctum, Pendle Finance, Solana, Manta Network, Ava Labs, and Messari, etc.
6th Man Ventures
6th Man Ventures is another co-lead for Scallop’s Q1 2024 Strategic Investment Round. They are a venture capital firm that invests in early-stage blockchain applications and innovative projects for Web3. The 6MV team comprises of members who had all graduated from top-ranked universities in North America and have solid business knowledge and proficient technical support for development. 6MV was co-founded by Mike Dudas and Serge Kassardjian. Mike Dudas has over eight years of rich experience and unique trend insights in blockchain and is also a co-founder of the international digital asset newsletter, The Block. Serge Kassardjian had prior experience at Google Play’s global media application. Both of them lead the 6MV team to provide assistance and full support to more than 100 blockchain startup projects.
KUCOIN
KUCOIN is a top ten exchange in the world in terms of trading volume, committed to creating the most innovative, diversified trading, and high-security trading platform, which includes spot trading, margin trading, P2P fiat trading, futures trading, pledge and lending, etc. They provide financial and strategic support for the most disruptive blockchain and Web 3.0 projects with deep insight and global resources.
UOB Venture Management
UOB Venture Management is a wholly-owned subsidiary of United Overseas Bank, one of the top three banks in Southeast Asia. They provide financing for private enterprises in Southeast Asia and Greater China through direct equity investment. UOB Venture Management manages assets exceeding 2 Billion Singapore Dollars, with a team of diverse experience and qualifications, coupled with local operations in Singapore, Indonesia, Vietnam, and China, assessing over 700 companies in the China-ASEAN economic growth region each year.
Mysten Labs
Mysten Labs is the founder of the decentralized Proof-of-Stake blockchain Sui, dedicated to building Web3 to give individuals and creators unprecedented high-security ownership of their data and content. It aims to solve many chain problems by laying the foundation for a decentralized network stack suitable for large-scale adoption.
Mysten Labs was co-founded by Evan Cheng (CEO), Sam Blackshear (CTO), Adeniyi Abiodun (CPO), Kostas Chalkias (Chief Cryptographer) and George Danezis (Chief Scientist). Evan Cheng was the former Director of Research and Development at Facebook’s Novi Financial Products Department, and used to work at Apple for 10 years. Sam Blackshear, Adeniyi Abiodun, and George Danezis had also previously worked together at Novi Research (an advanced encryption research team under Meta), and are currently leading Mysten Labs’ research and development at an unparalleled pace.
Oak Grove Ventures
Oak Grove Ventures is an investment firm primarily focused on early-stage startups in cutting-edge technology areas such as Web3, Artificial Intelligence (AI), and biotechnology. It was established with a $60 million venture capital fund launched by Shawn Shi, co-founder of Alchemy Pay. Other members of the fund include Sally Wang, former Vice President of Sino Global Capital (now Ryze Labs), and Zac Pan, former Associate Partner of Lightspeed Venture Partners. Notable investments include SpaceX, Neuralink, Gemini, Consensys, OpenSea, Animoca Brands, NEAR Protocol, etc.
Side Door Ventures
Side Door Ventures is a global venture capital firm that supports industry-agnostic, bold and ambitious founders to build businesses that disrupt industries and change future lives. Noteworthy investments include SpaceX, Mysten Labs, Polygon, etc.
Comma3 Ventures
Comma3 Ventures is a venture capital firm that focuses on investing in disruptive startups in early Web 3 and blockchain, promoting mass adoption alongside the startups.
Kyros Ventures
Kyros Ventures is the investment subsidiary of Vietnam’s leading cryptocurrency entity, Coin68 Media. Specializing in incubation and investment, it serves as the gateway for international cryptocurrency projects to enter the Vietnamese market, helping to increase their visibility and adoption rate.
Coin 68
Coin68 is the fastest, most accurate Vietnamese cryptocurrency information portal, allowing readers to understand the developments in the global cryptocurrency field and blockchain technology, with over 15,000 articles and news about blockchain.
Cypher Capital
Cypher Capital is a multi-strategy crypto investment firm headquartered in the UAE, working in collaboration with globally renowned Web 3 founders, leveraging global relationships and industry expertise to ensure long-term project success.
Blockchain Founders Fund (BFF)
Blockchain Founders Fund (BFF) is an early-stage venture capital fund based in Singapore, focusing on investing in start-ups of top global blockchain and emerging technology projects.
Signum Capital
Signum Capital invests in distributed ledger technology and cryptographic assets, supporting innovative projects in the industry to drive the future of the society and economy’s transformation towards blockchain. It has specifically established the UVM Signum blockchain fund, in a joint project with UOB Bank.
Zellic
Zellic is a blockchain security audit and consulting firm, boasting the world’s top hackers and vulnerability researchers. The company’s innovative speed surpasses existing security teams, earning it a reputation as the preferred security company.
OtterSec
OtterSec is a Web3 blockchain security company, focusing on identifying and repairing critical vulnerabilities, protecting over 5.69 billion USD of TVL.
Movebit
Movebit, as the vanguard security agency of the Move ecosystem, is an audit partner of Aptos, Sui. MoveBit participated in the audit of Move VM, successfully completing the first high-quality smart contract audit within the Move ecosystem.
LBank Labs
LBank Labs is a fund with a management scale of 100 million US dollars, dedicated to promoting the decentralization of blockchain and Web3 innovations, and participated in QED’s 3 million US dollar financing earlier this year.
We are proud to say that Scallop is not alone on our journey; we are thankful to have a strong backing, an amazing community, and a highly professional team. We are dedicated to providing the highest security, the fastest liquidity, and the best user experience for our Scallopers. We look forward to continuing to innovate and develop, bringing Scallopers more exciting features and achieving greater milestones!We are proud to say that Scallop is not alone on our journey; we are thankful to have a strong backing, an amazing community, and a highly professional team. We are dedicated to providing the highest security, the fastest liquidity, and the best user experience for our Scallopers. We look forward to continuing to innovate and develop, bringing Scallopers more exciting features and achieving greater milestones!
