• Munich’s Staking Facilities launches a $25 million venture arm, while Sommelier raises $23 million

  • Staking Facilities is a validator, node operator, and infrastructure service provider that has invested in protocols such as Solana, Cosmos, Polkadot, and Dfinity.

    Staking Facilities, based in Munich, has bootstrapped a $25 million investment for a venture capital arm, according to Louis Bauer, a business developer at Staking Facilities.

    The company is a validator, node operator, and infrastructure service provider that has invested in protocols such as Solana, Cosmos, Polkadot, and Dfinity.

    According to its website, Staking Facilities has staked over $2.2 billion in assets and paid out $100 million in rewards.

    The money will be used to support early-stage teams. According to Bauer, the company has already begun investing in protocols in many layer-1 blockchains over the last few years, but it is interested in expanding into the DeFi and middleware sections of protocols.

    “We’d like to help developer teams at an earlier stage than we have in the past.” “We’ve been investing in a lot of established protocols,” Bauer explained. “One of the most exciting aspects is that we will be able to support teams in the seed stage that are putting together an initial developer team,” he said.

    Portfolio management for DeFi Sommelier raises $23 million

    In other news, Polychain Capital led a $23 million Series A funding round for Sommelier, a decentralized portfolio manager software.

    According to the company, Alameda Ventures joins as an existing investor, alongside new participation from Zola Ventures, Byzantine Ventures, Tendermint Ventures, Secure Ventures, D1 Ventures, and Ferngrove Ventures. According to Co-Founder Jack Zampolin, Sommelier has raised approximately $27 million in total.

    The company is a complex Ethereum-based protocol that will soon be managed on the Cosmos blockchain. The funding round comes as the company’s network prepares to launch its mainnet, which will be powered by a decentralized network of blockchain validators.

    According to Zampolin, Sommelier’s software aims to connect multiple ecosystems so that users have an easier, more understandable experience.

    “I believe that in traditional finance, when you look at actors like prime brokerages and large investment banks, they’re doing this work, wrapping more financial products to be more passive investment vehicles,” Zampolin explained. “Sommelier is an effort to do that in DeFi,” he explained, “but instead of providing that service to high-profile individuals and very large institutions, we’re providing it to anyone with an account on one of these exchanges.”

    Sommelier’s product helped liquidity providers place over $10 million in liquidity on Uniswap V3, generating over $2 million in fees for portfolio owners in the first six months since the launch of its “Pairings Uniswap v3 liquidity manager application,” it said.

    The Sommelier community will vote on its community-governed Cellars in the near future, which are programs that can fully automate liquidity management through its blockchain and can expand and improve its blockchain software, as well as its ecosystem and community of LPs, according to the company.

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