7 hours Ago By Dan Yoo
Dubai, UAE — On October 22, karpatkey, an onchain treasury management solution provider for DAOs and financial institutions, announced the successful closure of a $7 million funding round. The round saw participation from over 40 angel investors and investment funds. This new funding will empower karpatkey to broaden its reach to more DAOs and enhance its engagement with traditional financial 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." Key participants in the funding round include AppWorks Ventures, Wintermute Ventures, and renowned angel investors such as Joe Lubin from ConsenSys and Stani Kuchelov from Avara, among others.
Joe Lubin, Founder of ConsenSys, remarked: "I’ve watched karpatkey emerge as a pioneering market leader in DAO treasury management. Their bespoke approach involves deploying dedicated teams to help DAOs increase income, expand partnerships, solve technical issues, and reduce risk, resulting in long-term sustainability for DAOs and significant growth for karpatkey." Formed in 2020 to manage the Gnosis treasury, karpatkey now delivers complex financial solutions to prominent crypto organizations, including Aave, Balancer, and Lido.
As a treasury asset manager, karpatkey is profoundly involved in protocol governance and strategic initiatives. The karpatkey treasury network boasts over $1.8 billion in assets and has executed over 10,000 onchain transactions without incident.
“We were one of the first active DAO treasury managers in crypto, and remain today the largest, by far,” noted Marcelo. "To achieve that, we’ve built expertise in areas beyond traditional asset management, such as business development, risk management, and legal consulting. These are the services we aim to market to more users with our investors' support.
" Karpatkey plans to expand beyond DAOs, targeting traditional financial institutions. They will offer institutional investors exposure to blue-chip DeFi tokens and yield through actively managed open-ended funds, leveraging their current infrastructure at competitive prices. As Marcelo Ruiz de Olano puts it, "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.
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