Superstate, an NYC-based blockchain-powered asset management firm, raised $14M in Series A funding to expand their team, launch private funds to institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.
The firm announced that it has raised $14M in Series A funding, co-led by Distributed Global and CoinFund, two prominent crypto venture capital firms.
The round saw participation from notable investors, such as Breyer Capital, Galaxy, Arrington Capital, Road Capital, CMT Digital, Folius Ventures, Nascent, Hack VC, Modular Capital, and the Department of XYZ.
This follows a $4M Seed financing in June 2023 led by ParaFi, Cumberland, and 1kx.
Superstate’s products are designed to cater to different types of investors, from retail to institutional. Superstate offers private funds that are accessible to accredited and qualified investors, as well as public funds that are registered with the Securities and Exchange Commission (SEC) and available to anyone.
The private funds include a fixed-income fund that invests in tokenized bonds, a real estate fund that invests in tokenized properties, and a commodities fund that invests in tokenized gold and oil.
Superstate’s public funds include an index fund that tracks the performance of the top 10 crypto assets by market capitalization and a thematic fund that focuses on emerging sectors and trends in the crypto space.
The firm intends to use the new funding to expand its team, launch its private funds to institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.
Superstate also plans to partner with leading platforms and protocols in the crypto ecosystem to integrate their products and services.
Superstate is led by CEO Robert Leshner, a former Wall Street trader and hedge fund manager who also founded Compound, a leading decentralized finance (DeFi) protocol.
