HomeUSADepartment of XYZ Raises $5.1M for First Fund

Department of XYZ Raises $5.1M for First Fund

The Department of XYZ

Department of XYZ, a NYC-based blockchain-focused venture capital firm, reportedly raised $5.1m for its first fund.

Backers include Robert Leshner, Kyle Samani, and Tyler Winklevoss and Cameron Winklevoss.

Led by former New York State Department of Financial Services crypto regulator Matthew Homer, Department of XYZ invests in early stage founders seeking to build trusted new financial systems, supporting founders in navigating regulatory and market structure paths.

The portfolio already includes:

  • Bridge, a stablecoin API that enables developers to move into, out of, and between any form of a dollar.
  • RWA.xyz, a data platform for crypto real-world assets
  • Opdefi, which allows digital asset recovery in seconds removing counterparty risk and ensuring business continuity
  • Aethos, a modular and decentralized policy engine tailored for compliance
  • Superstate, which is bringing regulated financial products to the blockchain, starting with short-term government bonds
  • Squid, which allows any token to be swapped between blockchains, and unlocks access to apps across chains
  • Dapi, which provides infrastructure for decentralized person-to-person fiat trades
  • Mountain Protocol, a first regulated yield bearing stablecoin

VCWire

06/05/2024