Orderly Protocol received funds to develop its ecosystem
SID Venture Partners became an investor in the startup Orderly Protocol. The amount of investment was not disclosed. The startup is a modular ecosystem based on the NEAR blockchain platform. This project also offers the possibility of a decentralized protocol for exchanging data without the need for permissions. It should be noted that SID Venture Partners has previously funded the development of the NEAR platform. Based on the NEAR Protocol platform, blockchain applications can be created, including for business purposes. The niche in which the startup operates is valued at $12 billion. In addition to SID, Andreessen Horowitz and Coinbase Ventures invested in the project.
Thanks to the development of Orderly Protocol, users can apply a variety of financial instruments, including open-ended swaps, spot and margin trading, loans, and credit processing.
SID Venture Partners launched late last year. It has $15 million in capital to invest in early-stage technology startups. According to the fund’s policy, it will invest between $150,000 and $300,000 in promising projects at the pre-seed, seed, and Series A financing stages.
SID Venture Partners was founded by nine businessmen and managers of technology companies; investments are directed to V-Art, Awesomic, and Finmap startups. In addition, SID supports other projects, including Elai.io, a platform for creating videos via text. It works on the basis of artificial intelligence, which translates a text message into a video format. The mobile service Mindist.io helps coaches and yoga coaches create apps with their own exercises and meditations. The product is in demand and the number of users is growing regularly.
SID Venture Partners also financed the development of the SPOKK service, which gives the opportunity to insure pets with no extra effort.
The fund is primarily interested in firms that deal in blockchain, fintech, and b2b products. The investment period is 5 years, and the portfolio is designed for 50 companies.
It should be noted that SID Venture Partners is not the only fund that focuses on blockchain and fintech. As the experience of several years shows, these areas are becoming more and more in demand, and the market is developing at a rapid pace. Large investors are investing in fintech development and decentralized platforms, many of which are becoming unicorns.
For example, at the beginning of the year, Alma, a fintech from France, raised 115 million euros in a funding round. Investors included such giants as Tencent, Seaya Ventures, Cathay Innovation, and others. The volume of annual deals, which are conducted with the help of the platform, is more than 1 billion euros.