Why We Invested in Altitude

28 January 2024

Overcollateralised lending is one of the most prominent use cases of DeFi, especially during bull markets when the demand for leverage increases. However, despite the programmability and composability of DeFi, we are still struggling with a trade-off between capital efficiency and peace of mind when taking over collateralized loan positions.

Euro stablecoins and the Future of Money

09 August 2023

In Q1 2023, Blackrock made $1.16B in net income. In that same time, Tether netted $1.48B. A stablecoin issuer has just surpassed the net income of a 35-year-old asset manager with $9T AUM.

It is no surprise that issuing stablecoins is a highly profitable business, at least for now.

Thesis: Real World DeFi

21 June 2023

If software is eating the world, crypto is eating capital markets.

Tokenisation is not a new concept. Startups, banks, and stock exchanges have explored this since before 2017. However, the present moment is an unparalleled opportunity for mass adoption. With stablecoins proving themselves effective as a medium of exchange and DeFi infrastructure proving reliable post-DeFi Summer 2020, we stand at the precipice of a significant on-chain influx of Real World Assets.

Tioga Capital: Origins

15 May 2023

Founded late 2020 by Nicolas Priem and Michiel Lescrauwaet, Tioga Capital is a Luxembourg based venture capital fund that is dedicated to backing exceptional European Web3 entrepreneurs. The team currently consists of 8 individuals based in London, Lisbon, and Brussels investing out of a +€80M fund. […

Why we invested in PV01

05 April 2023

PV01 aims to revolutionize the bond market with its mission to build and operate debt capital markets where a healthy digital asset ecosystem can thrive, and to become the “Robinhood of bonds”. […]

Why we invested in Chaos Labs

23 February 2023

Chaos Labs is the first highly automated economic security system for crypto protocols. It allows improved risk management and optimisation, helping protocols navigate the challenge between capital efficiency and economic security. […]