The funding round, led by Republic Capital and IOSG Ventures, will help unlock private markets like SpaceX and OpenSea for the masses.
Decentralized trading platform prePO has closed a US$2.1 million strategic round, turbocharging its mission to democratize pre-public investing.
The round was led by Republic Capital and IOSG Ventures, with participants including MEXC, AscendEX, GCR, Shima Capital, Caballeros Capital, Dexterity Capital, HoneyDAO, NeptuneDAO; and founders from 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’re incredibly grateful to have such an all-star group of backers. Their industry expertise, deep networks, funding, and long-term support, will be invaluable in accelerating the growth of prePO.”
Brian Johnson, Head of Crypto at Republic Capital, is proud to be supporting the platform:
“We believe prePO’s approach to synthetic pre-public assets is a game changer for those who have not been able to participate in the private markets before.”
This fundraise follows last year’s $1.1 million seed round, which included The LAO, Maven 11, Apollo Capital, and founders from Illuvium, Alchemix, mStable, dHedge, and Zed Run. prePO allows anyone to go long or short on any pre-IPO company or pre-token crypto project, in an instant and non-custodial manner.
By using prePO, retail investors will finally have 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 up-to-date market pricing.
Ray Xiao, Principal at IOSG Ventures, voiced his enthusiasm:
“prePO’s breakthrough design ensures that adequate liquidity exists for speculation, and that liquidity providers are risk-limited and rewarded meaningfully.”
prePO’s 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 launch directly on the Ethereum scaling solution Arbitrum shortly after the token launch.