Superstate Announces $14m Series A Financing to Develop Tokenized Funds

Superstate Nov 15, 2023
Superstate Announces $14m Series A Financing to Develop Tokenized Funds

Superstate, an asset management firm modernizing the infrastructure of investment funds, today announced a $14m first close of their Series A financing. The capital will be used to expand their team, launch tokenized private funds to institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.

Superstate’s Series A was co-led by Distributed Global and CoinFund, with participation from Breyer Capital, Galaxy, Arrington Capital, Road Capital, CMT Digital, Folius Ventures, Nascent, Hack VC, Modular Capital, and Department of XYZ. Superstate previously raised a $4m Seed financing in June 2023 led by ParaFi, Cumberland, and 1kx.

The future of investments are programmable, compliant, and transparent,” said Superstate Co-founder and CEO Robert Leshner, “To date, first-generation tokenized funds fall short; they either function within private blockchains, or exist in off-shore entities, removing access for U.S. investors. Superstate aims to bring on-chain advantages to U.S. investors.

Superstate is developing regulated, self-custodied tokenized funds. These funds are designed to provide exposure to traditional assets via on-chain investment products, granting investors access to the speed, programmability, and compliance benefits of tokenization. The Firm’s on-chain funds are designed to enhance investor experience with several key benefits:

  • Investor-Directed Ownership: Self-custodied tokenized assets allow investors to move and settle their funds quickly, freely, and bilaterally.

  • Next Generation Utility: Tokenized assets are programmable, and composable with on-chain contracts & applications. Automation and new use-cases are possible.

  • Transparent, Embedded Compliance: With an on-chain fund, compliance is enforced in real-time—not after the fact. Transactions are compliant by default.

In June 2023, a draft prospectus was filed with the U.S. Security and Exchange Commission to create the Superstate Short-Term Government Bond Fund. As drafted, the Fund will be an open-ended mutual fund with a secondary record of ownership, tracked on the Ethereum blockchain.

Superstate’s approach to tokenization will bridge the gap between high-quality compliant financial products and the massive advantages and innovation DeFi is poised to offer to traditional finance,” said CoinFund Founder & CEO Jake Brukhman. “We’re excited to be part of their journey as they innovate in the space of real-world assets.

Twitter LinkedIn

Superstate

Home

USTB

About

Blog

Careers

Help

Knowledge Base

Contact Us

Newsletter

Get Superstate News, Insights, and Industry Updates straight to your inbox.

All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. Neither the Website nor any of its content is offered as investment advice and should not be deemed as investment advice or a recommendation to purchase or sell any specific security. The information contained herein reflects the opinions and projections of Superstate as of the date hereof, which are subject to change without notice at any time. Superstate does not represent that any opinion or projection will be realized. Neither Superstate nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current or complete, and such information is subject to change without notice. Any performance information must be considered in conjunction with applicable disclosures. Past performance is not a guarantee of future results. Neither this Website nor its contents should be construed as legal, tax, or other advice. Individuals are urged to consult with their own tax or legal advisers before entering into any advisory contract.

Superstate is currently exempt from registration with the U.S. Securities and Exchange Commission (“SEC”) in reliance on the private fund adviser exemption under the Investment Advisers Act of 1940 (“Advisers Act”). Information about Superstate can be found by visiting the SEC website www.adviserinfo.sec.gov and searching for our firm name. Neither the information, nor any opinion expressed above should be construed as solicitation or recommendation to buy or sell a security or personalized investment, tax, or legal advice.