DeFi asset management protocol Velvet raised $3.7 million, with YZi Labs and others participating

Comparatively, DeFi asset management protocol Velvet Capital announced the completion of $3.7 million in funding, YZi Labs and Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindful Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, and DWF Ventures participated.

This funding accelerates Velvet's mission to provide frictionless portfolio management and trading for funds, DAOs, and individual traders, while driving the launch of its new governance and utility token, Velvet.