Karpatkey, a company that offers solutions for DAO treasury management on the blockchain, has just raised $7 million.
In order to broaden its service offerings to a greater number of DAOs and expedite its outreach to traditional financial institutions, Karpatkey intends to utilize the recently acquired funds.
AppWorks Ventures and Wintermute Ventures are among the prominent angel investors in this round, as are Joe Lubin from ConsenSys, Stani Kuchelov from Avara, and Fernando Martinelli from Balancer Labs, among others.
Karpatkey, which was established within GnosisDAO in 2021, gained independence earlier this year after the former voted to separate the onchain treasury manager as an independent entity.
The Karpatkey treasury network has increased its assets to over $1.8 billion and has successfully executed over 10,000 onchain transactions for counterparties without incident, utilizing its risk management infrastructure. It has collaborated with prominent clients in the cryptocurrency industry, including Aave, Uniswap, ENS, and MakerDAO.
“We were among the first active DAO treasury administrators in crypto and continue to be the largest,” stated Marcelo Ruiz de Olano. “In order to accomplish this, we were required to develop expertise in numerous fields that were not part of conventional asset management. A typical karpatkey treasury management engagement encompasses assistance with business development, risk management, legal consulting, M&A, and more.”
Karpatkey was established in 2020 to oversee the Gnosis treasury. Since then, it has expanded to provide complicated financial solutions to prominent crypto organizations, including Aave, Balancer, and Lido.
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