Insider: Metalayer plans to establish a $25 million encryption venture capital fund

Shenzhen TechFlow News, on November 25th, according to Fortune, a company called Metalayer has filed documents with the US Securities and Exchange Commission (SEC) to establish a $25 million investment fund. According to insiders, Metalayer was co-founded by three senior executives from Two Sigma Ventures, the venture capital arm of the mysterious investment firm Two Sigma based in New York. Insiders said that Metalayer completed its first fundraising last Friday, with a committed capital of $20 million, and plans to complete full fundraising by the end of the year.

According to sources, Metalayer’s initial funding comes from some executives of Two Sigma Ventures, but there will be no formal relationship between the two companies. Two Sigma is known for its Hedging fund, managing approximately $60 billion in assets. Metalayer also raised funds from other supporters, including family offices and other executives of encryptionprotocol.

According to LinkedIn, one of the founders of Metalayer, Andy Kangpan, served as the digital asset lead at Two Sigma Ventures until August 2024. Mickey Graham was the vice president of Two Sigma Ventures before 2021 and later joined the blockchain project Chainlink. David Winton left in 2021, previously serving as VP of Software Engineering, and then joined the research team at Greenoaks, a large venture capital firm based in San Francisco. Metalayer and Two Sigma Ventures both declined to comment.