Karpatkey Secures $7 Million Funding Round

Karpatkey, an on-chain treasury management solutions provider for DAOs, has announced a $7 million funding round.

The newly acquired funds are earmarked to expand Karpatkey’s service offerings to more DAOs and accelerate its outreach to traditional financial institutions.

Investors

Investors in this round include AppWorks Ventures and Wintermute Ventures, alongside a cadre of prominent angel investors like Joe Lubin from ConsenSys, Stani Kuchelov from Avara, and Fernando Martinelli from Balancer Labs, among others.

Background

Launched within GnosisDAO in 2021, Karpatkey became an independent entity earlier this year after the former voted to spin off the on-chain treasury manager as an independent entity.

The Karpatkey treasury network has grown to over $1.8 billion in assets, and its risk management infrastructure has been used to execute over 10,000 on-chain transactions for partners without incident. It has worked with high-profile clients in the crypto space, such as Aave, Uniswap, ENS, and MakerDAO.

“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.”

Evolution

Karpatkey was created in 2020 to manage the Gnosis treasury and has since evolved to offer complex financial solutions to prominent crypto organizations such as Aave, Balancer, and Lido.