The founders of the failed Singapore crypto hedge fund Three Arrows Capital (3AC) are now approaching investors for a new venture that targets crypto bankruptcy claims. Separately, Interstellar Technologies, a Japan-based space startup, has closed a $30 million Series D funding round.
Founders of Three Arrows Capital look to raise $25m for new venture
Su Zhu and Kyle Davies, the founders of Singapore-based crypto hedge fund Three Arrows Capital, which has filed for Chapter 15 bankruptcy in the US, are planning to raise $25 million for their new venture called GTX.
GTX is a platform for crypto bankruptcy claims where clients from bankrupt exchanges like FTX and other insolvent platforms can access their capital and start investing again. The new platform thus aims to capitalise on the fall of crypto exchanges such as FTX and BlockFi.
GTX will allow former FTX clients and clients of other bankrupt crypto exchanges to verify and tokenize their claims, while enabling them to start investing again.
Japan’s Interstellar Technologies bags $30m
Interstellar Technologies, a Japan-based space startup, has closed a $30 million Series D funding round.
Japanese venture capital firms SBI Investment, Satudra Holdings, Nisso Kosan, CyberAgent and De Aardappeleters participated. While Reiichi Sasaki, the president of Ichigo Ventures; Norimasa Yamamoto, the president of Heiwa Shuzo and Kazunori Asada, chairman of Howdy were some of the individual investors.
The company plans to use the new funding for R&D, hiring new talent, and investing in the ZERO rocket which is supposed to be launched this year, according to media reports. The company has received over $42 million in funding till date.
Founded in 2003, Interstellar Technologies is a Japanese private spaceflight startup involved in rocket development, manufacturing, and launch service, while becoming a comprehensive space infrastructure company.