According to an announcement, this is the second lead investment of LuneX Ventures since its appointment to SGInnovate’s panel of co-investors for deep tech startups.
Founded in February this year, StakeWith.Us is building secure blockchain infrastructure to power the next generation of proof of stake blockchain protocols catered to all investors.
The company plans to use the funding to build out its team across Asia and to further expand its offering.
“We believe staking services are core infrastructure needed for decentralized permissionless networks and are the asset managers of tomorrow,” said LuneX Ventures founding partner Kenrick Drijkoningen.
LuneX Ventures is the $10-million blockchain and cryptocurrency-focused arm of Singapore-based Golden Gate Ventures.
Launched last year, the fund plans to invest in companies building infrastructure and supporting blockchain services, especially related to e-wallet systems, treasury management solutions and customer solutions.
It is targeting the final close of its first $10-million fund in October.
The crypto fund has received $6 million in capital commitments so far, up from $4 million during its launch in August last year. The fund has a pool of 20 limited partners (LPs), comprising high net worth individuals (HNWIs), technology corporates from Japan and Europe, and family offices from Singapore.
StakeWith.Us team comprises experienced professionals with backgrounds in cybersecurity, finance and blockchain industries with companies like Fireeye, JP Morgan Chase.