Metalayer has completed a $20 million first-round fundraising and plans to establish an investment fund with a scale of $25 million.

ChainCatcher News, newly established encryption investment company Metalayer has submitted documents to the United States Securities and Exchange Commission (SEC) to establish a $25 million fund dedicated to the encryption industry. It is reported that Metalayer has completed its first round of fundraising, with a subscribed capital of $20 million, and is expected to raise funds by the end of the year. Metalayer’s three founders are all former executives of Two Sigma Ventures, including former digital asset head Andy Kangpan. It is understood that Metalayer has invested in three companies, including the synthetic dollar project Ethena, the institutional exchange Crossover, and the blockchain clearinghouse Clear Token, demonstrating its focus on the integration of encryption technology and mainstream financial services. Despite the overall decrease in encryption venture activities, Metalayer’s fundraising is still supported by executives from Two Sigma Ventures and other investors. Insiders believe that the establishment of this fund marks the continued recovery of venture capital enthusiasm in the blockchain field.