The funding round, led by Republic Capital and IOSG Ventures, will help open up private markets such as SpaceX and OpenSea to the masses.
Decentralized trading platform prePO has closed a $2.1 million strategic round, boosting its mission to democratize pre-public investment.
The round was led by Republic Capital and IOSG Ventures, with entrants including MEXC, AscendEX, GCR, Shima Capital, Caballeros Capital, Dexterity Capital, HoneyDAO, NeptuneDAO; and founders of Gnosis, 1inch, Moonbeam, Zapper, Gelato, BarnBridge, Zeta, Fleek, Immunefi, deBridge, Thales, Dapp.com; and many others.
Commenting on the announcement, prePO founder Xavier Ekkel said:
“We are incredibly grateful to have such an all-star pool of donors. Their industry expertise, deep networking, funding and long-term support will be invaluable in accelerating prePO’s growth.”
Brian Johnson, Head of Crypto at Republic Capital, is proud to support the platform:
“We believe that prePO’s approach to synthetic pre-public assets is a game changer for those who have not previously been able to participate in the private markets.”
This fundraiser follows last year’s $1.1 million seed round, which included The LAO, Maven 11, Apollo Capital and founders of Illuvium, Alchemix, mStable, dHedge and Zed Run. With prePO, anyone can go long or short in a pre-IPO company or pre-token crypto project, in a direct and non-custodial way.
By leveraging prePO, retail investors are finally gaining access to opportunities that venture capitalists, institutional investors and private equity firms have enjoyed exclusively for decades. Investors can also use the platform to hedge their exposure to pre-public assets in their portfolio, or for transparent and current market prices.
Ray Xiao, Principal at IOSG Ventures, expressed his enthusiasm:
“The pioneering design of prePO ensures that there is sufficient liquidity for speculation, and that liquidity providers are risk-limited and meaningfully rewarded.”
The prePO token is expected to launch in the second quarter of 2022, with bonus rewards for those who register on the whitelist. The first version of the product will be launched on the Ethereum scaling solution Arbitrum shortly after the token launches.