Portfolio
2
companies
Merge
Merge builds banking and payments infrastructure for crypto and web3 businesses.
Improbable
Improbable builds scalable metaverse technology and multiplayer networking infrastructure for virtual worlds.
Min Teo
Managing Director
Joe Lubin
Founder
Octopus Ventures led the financing, which included backing from Hashed, Coinbase Ventures, and several prominent industry angels.
"Merge's vision is to build the infrastructure necessary to allow crypto businesses to operate without fear of shutdown by regulators or third-party risk teams. We're excited to back them as they build that and, ultimately, unleash even more innovation in crypto and defi."
The financing round was supported by investors including Andreessen Horowitz and SoftBank to develop interoperable Web3 virtual spaces.
"We founded Improbable to make real the promise of incredible online worlds that were more than just games – they were extensions of our lives. I believe the metaverse and Web3 movement, though very early, represent a once-in-a-generation redefinition of our society towards a ‘fulfilment economy’ where experiences made by an open network of creators and businesses can create enormous opportunity for everyone. M² is our contribution to establishing this future and we hope to help our partners catalyse an open metaverse with many participants and success stories. We are excited to be actively working with some of the best investors in the space in building out this new ecosystem."
