Solrise Raises $3.4M to Build Decentralized Fund Management Protocol on Solana

Solrise Finance, a protocol for decentralized asset management, has announced the completion of a $3.4 million seed round. Leading blockchain VCs including Parafi Capital and Alameda participated in the raise.

Other investors include Jump Capital, Delphi Digital, CMS, Reciprocal Ventures, and Skyvision Capital. Funds will be used to support Solrise’s goal of building a non-custodial asset management protocol on Solana. 

“The Solrise team are exceptional builders,” said Parafi general partner Santiago R Santos. “We’re excited to make this our first defi investment in Solana. We’re encouraged by the new possibilities in Solana for defi applications and see Solrise as the primary access point for investors and capital within the ecosystem.”

Solrise CEO Vidor Gencel said, “We are beyond excited to be working with the most amazing partners and investors we could have wished for. We are completely dedicated to making Solrise a long-term success, and are happy to have such strong support.”

Solrise Finance allows anyone to create, manage or invest in a managed portfolio of native and synthetic assets. It uses Solana’s fast and scalable blockchain that has been selected for its security, speed, and ease of use.

Using the Solrise protocol, fund managers will be able to allocate capital without the need to custody investor funds. As a result, investors can capitalize on the opportunities provided by defi while incorporating the best elements of tradfi in terms of asset management. The Solrise platform can serve the needs of experienced users looking for a more streamlined approach to portfolio management as well as novices more interested in a passive managed strategy.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.