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Crypto

Andreessen Horowitz opens Seoul office to support portfolio companies\' expansion into Korea

Silicon Valley venture capital firm Andreessen Horowitz (a16z) has officially opened an office in Seoul to support its portfolio companies\' entry into the Korean and broader Asian markets. The firm, which manages about $100 billion in assets, said it will use its global network to support market expansion and growth. The Seoul office will initially focus on crypto, with plans to widen its activities over time.

Crypto

TVL Capital raises $5 million to speed ETP on-chain push

TVL Capital, an institutional digital asset infrastructure company founded by former Morgan Stanley digital asset markets head Andrew Peel, has raised $5 million. The round was led by San Francisco-based venture capital firm Framework Ventures. TVL Capital plans to use the funds to strengthen its engineering and business development capabilities and speed the launch of its chain-traded product, or CTP. The company describes CTP as an on-chain version of exchange-traded products.

Crypto

Digital Asset raises $355 million led by a16z at $2 billion valuation

Digital Asset Holdings raised $355 million at a valuation of about $2 billion. The funding round was led by a16z Crypto, which invested $100 million, with participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities and Optiver. Digital Asset plans to use the proceeds to expand the Canton Network, which supports financial institutions in tokenising and settling securities without disclosing sensitive commercial data.