Crypto Venture Capital Sees $685 Million Boost for Twenty One Capital

In May, the crypto venture capital landscape saw notable developments, particularly in tokenization platforms and wallet technologies, indicating sustained dealmaking activity despite a quieter month overall.

One of the most significant events was the continued momentum for Twenty One Capital, a Bitcoin (BTC) treasury company backed by stablecoin issuer Tether, crypto exchange Bitfinex, and Wall Street firm Cantor Fitzgerald. The company's total funding reached $685 million after its backers exercised the option to purchase additional convertible bonds last month. This investment boost came a month after Twenty One Capital emerged from stealth with ambitious plans to acquire billions of dollars worth of Bitcoin. Additionally, Twenty One Capital CEO Jack Mallers announced the launch of proof of reserves, a public ledger that verifies the company's Bitcoin treasury holdings.

Jump Crypto, a venture capital firm, made an undisclosed investment in Securitize, a tokenization platform. This investment aims to support greater institutional adoption of tokenized assets and collateral management solutions. A Securitize spokesperson confirmed that this marks the company’s first investment since BlackRock’s $47 million allocation in 2024. Securitize has accumulated $4 billion in onchain assets, making it the largest tokenization market. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, accounts for nearly $3 billion in total value locked.

Savea, a United Kingdom-based tokenization company, raised $2.5 million in seed funding to support its mission of launching tokenized investment products backed by scarce assets such as wine, luxury watches, and classic cars. The investment round was led by venture studio EmergentX, with participation from several unnamed angel investors. Savea’s platform enables investors to purchase the SAVW token, an ERC-20 token fully backed by physical assets held in reserve. The assets are secured through a partnership with the Decentralized Storage and Tokenization Network (DESAT), which is also backed by EmergentX.

Dexari, a self-custodial crypto wallet, closed a $2.3 million seed round co-led by venture firms Prelude and Lemniscap, with additional participation from angel investors across the Hyperliquid ecosystem. The funding will further develop Dexari’s wallet, which also acts as a mobile trading app, and add resources to its developer team. The company plans to eventually launch on the App Store and Play Store. Lemniscap’s founder and managing partner, Roderik van der Graaf, described Dexari as “setting a new standard in crypto UX” away from complexity. Dexari is built on Hyperliquid, a decentralized exchange launched last November with considerable fanfare.

These developments highlight the ongoing interest and investment in the crypto space, particularly in areas such as tokenization and wallet technologies. The significant funding rounds and strategic investments indicate a continued bullish sentiment among venture capital firms, despite the relatively quiet month for crypto venture capital.