Three Arrows Capital (3AC)

Basics

• Singapore based (21-10-2020).
• Founded in 2012.
• In a short thread about VCs and dumping, this fund was a fast dumper (4-6-2022):

"While they didn't do it in minutes, they dumped [their unlocked tokens] in a day, also sending to binance."

Investments

• Aave. Helped (15-7-2020) raise $3M for Aave.
• Aptos; took part in their $200m strategic round (15-3-2022).
• Avalanche; Polychain and Three Arrows lead $230m investment in Avalanche (17-9-2021).
• Balancer; part of a $12M funding round (2-2021).
• Bastion; part of the $9M Series A raise, announced on the same day as its token got launched (21-4-2022).
• Bitcoin. Bought (4-1-2021) shares within the Bitcoin Trust of Grayscale: "The fund now owns nearly 38.9M shares, representing more than $1.31 billion in value."
• Bonfida; participated in a $4.5M seed round (15-10-2020).
• DerivaDEX. Is one of the backers in a $2.7M raise for DerivaDEX (2-7-2020).
• dHedge; one of the investors according to their blog (2-11-2020).
• DODO. Participated in a $5M raise for DODO (15-10-2020).
• dYdX; participated in the Series B round of $10M (26-1-2021).
• ETH; reportedly bought $400 million worth of ether 8-12-2021, this came just after Zhu has been highly critical of Ethereum. From CoinDesk: "The move is especially notable given Zhu’s recent disavowal of Ethereum, claiming “zero newcomers can afford the chain” because of its high transaction fees. Zhu said in a Telegram chat with CoinDesk that the hedge fund is bullish on ETH because the macro environment has become calmer and that “both U.S. and Chinese stock markets are healthy.”
• Gitcoin. Is one of the funders (18-10-2020) of Gitcoin Grant round 7 (and possibly continues to do so).
• KeeperDAO. Led a "seven-figure" seed round for KeeperDAO (31-7-2020).
• Mina. Helped raise $10.9M for Mina (21-10-2020). Led a $92M raise on 17-3-2022.
• Nerve Finance; part of a $2M token OTC (12-4-2021).
• Perpetual Protocol; part of a $1.8M private sale (8-2020).
• StarkWare; part of a $75M raise (24-3-2021). Took part in the Series C raise of $50m (17-11-2021).
• SushiSwap; one of the biggest LPs, besides Alameda (30-10-2020).
• Switcheo raised $1.2M from them, among others (5-11-2020).
• Synthetix. Is an institutional liquidity provider in Synthetix (23-7-2020).
• Tranchess; part of the $1.5m seed round (5-7-2021).
• Worldcoin; one of the many VCs who participated in this controversial project (24-10-2021).
• Yearn. Purportedly purchased 133 YFI (2-11-2020).

Team

• Su Zhu; CEO
• Kyle Davies
• Is a member of CDA (8-7-2020).