Skolem Technologies, a Valour venture portfolio company, raises $20 million in Series A round

  • Skolem Technologies increased 20 million dollars to enable institutional access to DeFi

  • Investors in Skolem’s Series A round include Galaxy Digital, Point72 Ventures, Jump Crypto, Fenwick and Dragonfly Capital

TORONTO, June 15, 2022 /CNW/ – Valor Inc. (the “company” or “bravery“) (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, today announced the increase in Skolem Technologies 20 million dollars in Series A funding. The round was led by Galaxy Digital and included participation from Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures and Dragonfly Capital.

Valor, Inc. logo (CNW Group/Valour, Inc.)

Founded in 2020 and led by JP Smith, formerly of Trail of Bits, Skolem is the first full-stack DeFi platform, enabling institutions to participate directly in the DeFi markets without significantly increasing technical staffing and portfolio risk have to. Skolem’s robust infrastructure and unique interface layer provide clients with reliable execution, an easy-to-use web UI and API, and full trading lifecycle support.

Due to the structural advantages of decentralization, DeFi is attracting increasing institutional interest. Corresponding DeFi LlamaDeFi has a total locked value (TVL) of $111.86 billion with assets under management by DeFi up 713% over the past 18 months. Skolem intends to use proceeds from the fundraiser to grow his team and scale the platform’s technological capabilities to grow the DeFi market by orders of magnitude.

“Skolem’s business model fits perfectly with our mission at Valor to expand access to digital assets with a simple and secure method,” he said Russell Starr, CEO of Value. “As participants in their early funding rounds, we are very pleased to see the Skolem team raising and executing additional funds from world-class firms as the DeFi market evolves and attracts institutions with onramps enabled by their teams’ disruptive platform.”

“DeFi markets are constantly evolving, making it difficult for institutions to easily trade, record and participate in the market in a safe and reliable manner. At Skolem, we firmly believe that DeFi will transform our world over the next decade, and we are committed to increasing access to this important market by developing a scalable platform that can provide a secure entry point,” said JP Smith , Founder and Chief Executive Officer of Skolem, “This fundraiser underscores the confidence our partners have in Skolem’s platform and the much-needed reliability it offers institutions to help them and the DeFi markets thrive.”

“Skolem is a zero-to-one solution for institutional access to the DeFi markets. The institutional DeFi stack requires security, execution, risk management, accounting and compliance,” he added wants zero, major investments at Galaxy Digital. “The options for institutions today are to either assemble their own tech stack and hire an engineering team, or let Skolem do the heavy lifting. We are very excited to support Skolem as they make DeFi access safe, convenient and reliable.”

“There is a clear and vocal need from institutional investors for a solution like Skolem that enables secure corporate access to DeFi markets,” he said Adam Carson, Crypto Lead at Point72 Ventures. “Skolem is a pioneer in this space and we are excited to support this impressive team of technologists and their efforts to support the growth of institutional DeFi markets.”

“Access to trading in the DeFi space is limited, complicated and lacks the guardrails needed for institutions with strict risk and reporting requirements to participate,” he said Hassab Qureshi, Managing Partner at Dragonfly Capital. “As the market continues to evolve, JP, Adam and their talented team have created a simple yet state-of-the-art solution that will enable DeFi to realize its full potential.”

Learn more about Valor and Skolem at valour.com and skolem.tech

About Skolem Technologies
scolem Technologies provides data and trade execution services for decentralized financial markets. Our systems are based on a deep understanding of the underlying smart contracts and a security research mentality. scolem Execution Technology is by invitation only.

About Valor Inc.:
Valor Inc. (NEO: DEFI) (GR: RMJR) (OTC: DEFTF) is a technology company bridging the gap between traditional capital markets and decentralized finance. Our mission is to expand investor access to best-in-class decentralized technologies that we believe are at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures to provide trusted, diversified exposure across the decentralized finance ecosystem. Visit valour.com for more information or to subscribe to receive company updates and financial information.

Cautionary Statement Regarding Forward-Looking Information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements by Skolem regarding Valour’s listing of ETPs; the growth of AUM; expansion of Valor into other geographic areas; the growth and adoption of decentralized finance; the pursuit of business opportunities by Valor and its subsidiaries; and the benefits or potential returns of such opportunities. Generally, forward-looking information is identified by the use of forward-looking words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “planned”, “estimates”, “projects”, “intends”, “anticipate” or “do not anticipate” or “believe” or variations of such words and phrases or state that certain actions, events or results “may”, “might”, “would”, “might” or “will be taken”, ” occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements, as the case may be, to differ materially from those expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, but are not limited to, the adoption of Valor ETPs Frankfurt, Euronext and other exchanges; Investor demand for DeFi Technologies and Valor products; the growth and development of the valor and cryptocurrency sector; Valor and cryptocurrency rules and regulations; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that could cause results not to be as anticipated, estimated or intended to fail. There can be no assurance that this information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NOTICE

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SOURCE Valour, Inc.

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