Quick look at Blockingradigm’s Q1 2023 investment landscape

Overview of Blockingradigm's Q1 2023 investment landscape

Blockingradigm has long been seen as a top-tier venture capital fund, and now they are venturing into the field of artificial intelligence. Cryptocurrency researcher Surf wrote an overview of Blockingradigm’s investment activities in the first quarter of 2023.

Top 5 investments for Q1 2023: 1) Conduit: rollup-as-a-service project that enables teams to quickly scale dApps by providing production-grade rollups built on Optimistic Rollup, aiming to offer a more accessible and cost-effective solution for projects seeking dedicated rollups. Seed round raised $7M USD, with other investors including Robert Miller, Ludwig Pettersson, etc.; 2) Ulvetanna: zk-Proof hardware infrastructure company that focuses on generating ZKPs for L2 zk-EVM networks by building hardware-accelerated ZKP generation processes. Seed round raised $15M USD, led by Bain Capital Crypto and Blockingradigm, with Jump Crypto participating;

3) code4rena: provides a transparent and gamified alternative to traditional audits, offering rewards to independent auditors who find errors through competition. Raised $6M USD; 4) nxyz: multi-chain indexing product suite that exposes real-time blockchain data through low-latency APIs. Raised $7M USD, with other investors including Coinbase Ventures, Greylock Blockingrtners, Sequoia, etc.; 5) Exponential: DeFi investment discovery and risk assessment platform that analyzes investment risks by examining protocol code, team experience, and market conditions, providing a DeFi investment rating system for users. Raised $14M USD, with other investors including Haun Ventures, Solana Ventures, Polygon Ventures, Circle Ventures.

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As Blockingradigm shifts from focusing on cryptocurrency to potentially incorporating emerging technologies/AI as part of its investment portfolio, AI-related projects in its portfolio include: 1) Arena X Labs: its AI Arena is an Ethereum-based game where players can buy, train, and battle NFT characters driven by AI, raising $5M USD in October 2021; 2) Numerai: hedge fund that uses machine learning for its trading strategies by encrypting financial data and sharing it with a global network of anonymous data scientists. Raised $11M USD in March 2019.

Reference: https://twitter.com/0xsurferboy/status/1663863017573081089

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