Velvet Raises $3.7M in Funding, with Participation from YZi Labs

On July 9th, as per Cointelegraph, the DeFi asset management protocol Velvet Capital declared the accomplishment of a funding round amounting to $3.7 million. The investors comprised YZi Labs, Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindfulness Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, DWF Ventures, and others. It is reported that this funding will offer frictionless portfolio management and trading for funds, DAOs, and individual traders while facilitating its governance and utility token.