May was a slightly less bustling period for cryptocurrency venture capital, yet significant fundraisings by tokenization platforms and a Hyperliquid wallet signal that business deals remain vibrant. The highlight of the month was the continued progress of Twenty One Capital, the Bitcoin treasury firm supported by Tether, Bitfinex, and Wall Street giant Cantor Fitzgerald.
Twenty One Capital’s total funding reached a whopping $685 million after its investors opted to buy more convertible bonds. The backers of Twenty One Capital increased their investment by an additional $100 million in convertible senior secured notes, pushing the total funding of the Bitcoin treasury to $685 million.
Twenty One Capital, which had recently disclosed ambitious plans to acquire billions of dollars’ worth of Bitcoin, has also announced the launch of a proof of reserves, a public ledger confirming its Bitcoin treasury assets.
In other significant news, decentralized computing layer aZen closed a $1.2 million seed round, led by Waterdrip Capital with additional contributions from DWF Ventures, Rootz Labs, and Mindfulness Capital among others. The platform is developing decentralized physical infrastructure networks (DePINs) for AI applications, reducing dependency on advanced chips amid supply chain disruptions.
Securitize, a tokenization platform, received an undisclosed investment from venture capital firm Jump Crypto. This marks Securitize’s first investment since BlackRock’s $47 million allocation in 2024. Securitize is now the largest tokenization market, with $4 billion in onchain assets.
UK-based tokenization company Savea received $2.5 million in seed funding to support its quest to launch tokenized investment products backed by scarce assets, such as wine, luxury watches, and classic cars. The round was led by venture studio EmergentX.
Lastly, self-custodial crypto wallet Dexari successfully closed a $2.3 million seed round. The funding will be used to further improve Dexari’s wallet, which also serves as a mobile trading app. Dexari, built on Hyperliquid, is hailed by Roderik van der Graaf, founder, and managing partner of Lemniscap, as “setting a new standard in crypto UX” away from complexity.
