Crypto is still a young breed. It grows new limbs almost every day. Our most critical and demanding job as fund managers is to assess which of these verticals could one day develop into leading narratives and significant market opportunities. Our predictions for 2025 represent verticals across the Infrastructure, DeFi and Consumer stack to which we generally attribute large and disruptive market potential.

We are excited to announce our investment in CoW Protocol, the leading intent-based DEX in DeFi. The investment has been made using the TWAP feature from CoW Swap.

We are excited to lead Liquorice's $1.2M pre-seed funding round. Liquorice developed a novel approach to connecting intent-based decentralized exchanges to a network of solvers and market makers through an API. With that, they are addressing some of the most pressing challenges in DeFi: enabling the optimal execution for traders by broadening the access for non-vertically integrated solvers to get offchain quotes.

Greenfield co-leads Centrifuge's $15M Series A. Its unique position in the market for tokenizing real-world assets (RWAs) is due to its solid and efficient infrastructure, differentiated service lines, and stellar team with a strong reputation and network across decentralized finance and traditional players. Centrifuge is primed for further massive growth.