karpatkey, a leading provider of onchain treasury management solutions for DAOs and financial institutions, announced today it has successfully closed a $7 million funding round, with participation from over 40 angel investors and investment funds. Funds from this round will allow karpatkey to expand its solutions to more DAOs, while accelerating its market outreach to traditional funds and institutions.
“We are thrilled to have such a strong group of investors representing the most respected names and organizations in crypto, including many of our existing partners,” said Marcelo Ruiz de Olano, co-founder of karpatkey. “We believe it’s a testament to the quality of our solutions and our focus on fostering long-term relationships with the DAOs we serve.”
AppWorks Ventures and Wintermute Ventures
Joe Lubin, Founder of Consensys, commented: “Over the past few years, I’ve watched karpatkey emerge as a pioneering market leader in DAO treasury management. Their hands-on bespoke approach involves deploying dedicated teams to help DAOs increase income, expand partnerships, solve technical issues, reduce risk, and more. The result has been long-term sustainability for the DAOs and tremendous growth for the karpatkey business.”
Initially formed in 2020 to manage the Gnosis treasury, karpatkey now delivers a range of complex financial solutions to many of the most successful organizations in crypto, including Aave, Balancer, CoW, ENS, Lido, and Safe. As an active manager of treasury assets, karpatkey is heavily involved in protocol governance, working on various strategic initiatives with partners. The karpatkey treasury network has grown to over 1.8 billion USD in assets and its risk management infrastructure has been used to execute over 10,000 onchain transactions for partners without incident.
“We were one of the first active DAO treasury managers in crypto, and remain today the largest, by far,” noted Marcelo Ruiz de Olano. “To achieve that, we had to build expertise in many areas outside traditional asset management. A typical karpatkey treasury management engagement includes support with business development, risk management, legal consulting, M&A, and more. These are the solutions and services we want to market to more users with the help of our investors.”
karpatkey will also expand its solutions beyond DAOs, targeting traditional financial institutions. Beginning with actively managed open-ended funds, karpatkey will offer institutional investors exposure to blue chip DeFi tokens and yield by leveraging its existing infrastructure at extremely competitive prices. “We’ve always believed karpatkey can serve as a major liquidity bridge between traditional finance and DeFi, benefiting our partners, investors, and the wider crypto community,” said Marcelo Ruiz de Olano.