Analyst signals
Metrics use all recorded activity through 23 Jul 2026 across strategic, unknown. Later-round outcomes are capped at the period end.
These are activity signals, not fund-return metrics. Round capital is the full disclosed financing amount, not this fund's check size. “Recorded solo” means only one investor is present in the source data and is a lead signal, not verified lead status; syndicated rounds are a co-investor or follower signal. IRR, TVPI, DPI, ownership, exits, and market beta cannot be calculated from the available records.
People
No team details are available yet.
Portfolio
Full financing histories for portfolio companies. Highlighted rounds are those where Ethena is recorded as an investor.
Based is a crypto platform combining permissionless trading for equities, cryptocurrencies, commodities, and perpetuals with prediction markets, crypto spending cards, a self-custodial wallet, AI services, and token discovery tools. It serves retail users and traders globally through web, desktop, and mobile applications.
Hyper Foundation operates a decentralized exchange on the Hyperliquid blockchain.
Solv Protocol provides Bitcoin liquid staking infrastructure enabling BTC holders to earn yield through staking while maintaining liquidity across DeFi protocols.