• Alan Howard leads a $7.5 million fundraising effort for the DeFi trading platform Nested

  • Nested, a French DeFi platform, has secured a $7.5 million Series A investment sponsored by hedge fund heavyweight Alan Howard in order to extend its supply of social-focused trading tools.

    According to a statement issued today, the British investor was joined by Republic Capital, Kenetic Capital, and CMT Digital. Joseph Eagen, the former president of Polychain Capital, also took part in the round.

    This is not Howard’s first investment in a cryptocurrency firm. He spearheaded a $25 million investment in London-based cryptocurrency custodian Copper last year, in addition to previous investments in payments company Bottlepay and Canadian lender Ledn, among others.

    Nested, unlike his other investments, envisions itself as a social trading platform for DeFi. Nested allows users to build portfolios of tokens that are themselves minted as NFTs after connecting with a compatible wallet. Nested claims that these “Nested NFTs,” which are similar to the “copy trading” features introduced by online broker eToro, are easily discoverable on the platform and may be utilized by producers to disseminate DeFi investing methods.

    “[We] backed Nested because we are excited to see such a mature product with a UX that is prepared for ease,” Republic Capital co-managing partner Andrew Durgee said in a statement. “We believe Nested is ready to use right out of the box and is ready for adoption.”

    Nested intends to use the additional funds to hire staff and implement features such as portfolio leaderboards, staking, and social media-like features such as user profiles and integrated messaging.

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