Bitcoin
$47,837.12-0.30%
Ethereum
$3,411.53-1.19%
XRP
$1.07-0.90%
Cardano
$2.35-1.13%
Polkadot
$33.87-0.35%
Stellar
$0.321950-0.54%
Dogecoin
$0.238982-1.32%
Chainlink
$27.94-1.39%
Uniswap
$24.20-1.96%
Polygon
$1.35-3.45%
Litecoin
$179.39-1.69%
Bitcoin Cash
$633.32+0.69%
Algorand
$2.05+5.38%
Cosmos
$39.39+16.30%
Wrapped Bitcoin
$47,858.92-0.16%
Filecoin
$83.55-2.35%
The Graph
$0.822144-1.28%
Tron
$0.104013-2.68%
Ethereum Classic
$56.38-1.32%
Aave
$349.35-3.04%
Tezos
$6.40+2.92%
EOS
$5.29+1.07%
NEO
$49.07-0.36%
Monero
$267.67+0.77%
IOTA
$1.61-2.88%
BitTorrent
$0.003906-1.09%
Bitcoin SV
$158.65+0.47%
Waves
$28.42-2.23%
Maker
$2,818.12-0.06%
Dash
$196.92-2.73%
Decred
$139.91-4.72%
Decentraland
$0.812924-1.49%
ICON
$1.88-2.59%
NEM
$0.182384-1.25%
Zcash
$137.90+0.56%
Qtum
$12.36-1.62%
NuCypher
$0.329257-0.83%
Bitcoin Gold
$65.86-0.33%
Yearn Finance
$33,602.15-0.06%
OmiseGO
$8.65+1.30%
Basic Attention Token
$0.742028-2.03%
0x
$1.10-0.10%
Paxos Standard
$0.999882-0.01%
Ren
$0.953472-10.55%
Fetch.ai
$0.822062-3.79%
Bancor
$4.04-1.09%
Siacoin
$0.018861+2.39%
Band Protocol
$9.18+0.14%
Kava.io
$6.25+0.86%
Nano
$5.51-0.56%
Loopring
$0.455946-1.28%
Storj
$1.37-0.76%
Civic
$0.522165-3.09%
Lisk
$3.58+1.12%
Numeraire
$46.15+2.03%
Orchid
$0.371843+1.86%
PAX Gold
$1,771.02+0.22%
Augur
$25.99-0.28%
Aragon
$6.40+8.76%
Enzyme
$120.34+4.83%
district0x
$0.175016+0.64%
Kyber Network
$1.78-2.87%
SingularDTV
$0.001467-0.61%
Tether
$1.00+0.01%
USD Coin
$1.00+0.01%
Dai
$1.00-0.05%

Leading Latin American Venture Firm Kaszek Makes First DeFi Investment

The fund led a $3 million investment in Exactly, a startup building a decentralized credit protocol.

Aug 12, 2021 at 9:04 p.m. UTC
Updated Sep 14, 2021 at 1:39 p.m. UTC

Kaszek, a leading Latin American venture capital fund, made its first decentralized finance (DeFi) investment, leading a $3 million round in Exactly, a startup that is building an open-source, non-custodial credit protocol on the Ethereum platform.

  • “We see a gigantic emerging opportunity in DeFi, which will change the financial landscape in unimaginable ways in the years to come,” Hernán Kazah, Kaszek’s co-founder and managing partner, said in a statement, adding that the investment is part of two recently raised funds totaling $1 billion. 
  • This is Kaszek's second investment in the crypto ecosystem. In December 2020, the firm co-led with QED a $62 million Series B round in Mexican exchange Bitso and joined a $250 million C round in Bitso in May. 
  • Exactly CEO Gabriel Gruber told CoinDesk the firm will use the funds to build the protocol and team, which includes hiring smart contract engineers. 
  • Exactly's platform will enable lenders and borrowers to access fixed income solutions as a first step, and longer term, help connect DeFi to traditional financial institutions, according to Gruber.
  • In addition to Kaszek, the round also included 6th Man Ventures, Maker Growth, Baires DAO, 11–11 DG Partners, Newtopia VC, NXTP Ventures and Sur Ventures.
  • Marcos Galperin, the founder of Latin America’s largest online marketplace, Mercado Libre, participated as an angel investor along with Uphold CEO JP Thieriot and Auth0 CTO and co-founder Matias Woloski, among others. 

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...