Top 5 VC Deals of the Week in Digital Wealth (3/13/2023)
Crackdown. Last week’s seizing of Silicon Valley Bank (SVB) likely will lead to the regulation of how and where startups access cash and further Regulation D monitoring of ‘specialized’ banks that cater to a particular population segment. Those inside and outside the industry may wonder if more bank failures like SVB are on the horizon. If there’s anything to learn, it may be this; put only some of your eggs in one basket, or in this case, one bank.
What may SVB’s failure signal? It could be a minor bump that may be a segue to more government regulation of VC and PE, leading to a new way of doing business. Hold steady, our startup friends.
Some notable trends this week:
- Friday, March 10th, was an eerily quiet day for funding awards…
- More individual VC investors, outside of collective DBAs, are making awards, reflected in this week’s #4 (Kresus) and #5 (Vantage).
- Across our research, payments continue to lead in deals but fall third in our tracked categories in funding totals.
On to this week’s Top 5 VC Deal…
1Scroll
$50M, Capital | Equity| Seychelles (Africa)| Crypto | Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, Qiming Venture Partners | https://scroll.io/
LinkedIn Overview:
“Scroll is a fully EVM-Equivalent zk-Rollup built to scale the Ethereum network. Our goal is to provide users with near instant and cost efficient transactions while also upholding the high security properties offered by the Ethereum network.”
2Till Payments
$46M, Series D | Debt | Australia| Payments | Silva Fortune | https://tillpayments.com
LinkedIn Overview:
“Till is the fast-moving, Aussie-born, global fintech disruptor opening up a world of possibilities for businesses seeking simple, seamless, all-in-one payments, we take the complexity out of getting paid with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop, be it online, in-store, or a combination of both.”
3Masttro
$43M | Equity | NYC| WealthTech | FTV Capital, Citi Ventures| https://www.masttro.com
LinkedIn Overview:
“Masttro is the WealthData Company. Masttro aggregates, analyzes and reports your total net worth. It ingests all structured and unstructured data including illiquid and liquid investments, liabilities and passion assets in every currency, in every region.”
4Kresus
$25M, Series A | Equity | SF | Blockchain | Liberty City Ventures, Franklin Templeton, JetBlue Ventures, Marc Benioff, Cameron Winklevoss, Tyler Winklevoss | https://www.kresus.com
Website Overview:
“Meet Kresus SuperApp. Part superior crypto wallet. Part portan to the wonders of Web3. The only app you need for all your digital assets.”
5Vantage
$21M, Series A | Equity | NYC | FinTech | Scale Venture Partners, Andreessen Horowitz, Harpoon Ventures, Matthew Prince, Glenn Soloman| https://www.vantage.sh
LinkedIn Overview:
“Vantage is a cloud cost optimization platform for AWS, Azure, GCP, Kubernetes, Datadog, Snowflake, Databricks, Fastly and more. Thousands of organizations globally, ranging from startups to F500 companies, rely on Vantage to manage and optimize over $1B of annualized infrastructure costs…”
