Brazil-based 2TM Group, which runs the largest cryptocurrency exchange in Latin America and has Softbank as an investor, has launched a corporate venture capital unit focusing on blockchain companies.
2TM Ventures, the firm’s new unit under Daniel Carneiro da Cunha, has so far invested $32m across a portfolio of 10 companies in the crypto universe, Roberto Dagnoni, CEO at 2TM, told newswire Reuters. Since then its deals have included Figment’s $110m C round.
“We want to be the infrastructure provider for the token economy,” Dagnoni said to Reuters.
Investments are made using both traditional financial instruments, such as equity and convertible notes, as well as new instruments including direct purchase of tokens.
Its deals include $PRINTS tokens in the Fingerprints DAO (decentralized autonomous organisation), a non-fungible token (NFT) curation and collection group; the seed round at Tropix, a marketplace for digital art NFTs; SL Tools, a financial market infrastructure provider that uses blockchain; as well as Abra, Block4, TradersClub, Polvo Technologies, CERC Central de Recebíveis S.A., Concash, Gorila, and FIDD Group.
2TM was valued at about $2.1bn after its $200m series B round and is the holding company of Mercado Bitcoin, with 3.2 million crypto customers as of October 2021.
