Community-Based Investment Protocol Syndicate Raises $ 20 Million

It must be fundraising season in the decentralized financial sector. Another protocol, Syndicate, is raising a lot of money from venture capital firms.

latest DeFi protocol to grab the attention of top investors is the community-driven investment platform Syndicate. In an announcement on August 31, Syndicate revealed that it raised $ 20 million in a Series A round directed by Andreessen Horowitz (a16z).

Some of DeFi’s regular investors also participated. se included IDEO CoLab Ventures, Electric Capital, CoinFund, Scalar Capital, Coinbase Ventures, Aave, Protocol Labs, Delphi INFINFT, and True Ventures.

re were also more than 150 prominent founders, operators, creators, and individuals who pledged to invest in the company. se included Alexis Ohanian, co-founder of Reddit, Biz Stone, co-founder of, actor Ashton Kutcher, and Calvin Cordozar Broadus Jr., also known as Snoop Dogg.

Syndicate aims to “democratize investing” by enabling communities to raise and invest capital in an environment traditionally available only to large financial players.

Investment democratization

protocol aims to make investing affordable for everyone by creating a social network that merges with an investment portal. Syndicate was founded in 2021, “with the ultimate goal of transforming the way the world creates and shares value.”

funding will be used to accelerate the development of a DAO, he added. This will be carried out with a view to integration with Web3 projects and fintech startups.

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In general, many have already been released on Syndicate. se include Komorebi, a platform that invests in female and non-binary founders, Audacity, which invests in black and African founders, Fiat Lux, which funds scientific research, and the non-fungible token investment platform Delphi INFINFT.

Syndicate said it is currently working with dozens of new communities like CityDAO, which democratizes access to land, which will launch in the coming months as part of a private beta launch.

According to the official website, the software has had two security reviews from ConsenSys, two security checks from Trail of Bits, and a formal verification from Certora. He also offered a reward of one million dollars.

DeFi-hungry VCs

Syndicate is the latest in a long line of investment and DeFi platforms that have raised funds in recent months.

For example, OffChain Labs just launched the long-awaited ethereum / »class =» autolink »target =» _ blank »> Ethereum Layer 2 Arbitrum One platform this week after raising $ 120 million.

Parallel Finance announced a $ 22 million financing round this week. ir goal is to bring more DeFi to the Polkadot ecosystem. Additionally, decentralized cybersecurity incentive network Hats announced a $ 3.5 million seed funding round yesterday.


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