Defiance Capital

Basics

• Launched in 2020
• Venture fund startup which was incubated by Three Arrows (8-7-2022). DeFiance is now considering legal action against Three Arrows, the sources said. This happened after 3AC filed for bankrupcy.

• In a short thread about VCs and dumping, this fund was the fastest dumper (4-6-2022):

"They transferred to Binance within 15 minutes of this latest vest, and in March in took them under an hour."

• Tipped the vote towards licencing the Aave V3 codebase (13-12-2021):

"What was interesting about this vote was the fact that defimaximalist.eth (Defiance Capital) tipped the vote over to yes. Kind of ironic for the name huh."

Investments

• The firm still manages somewhere north of $100 million, according to a source (8-7-2022).

• Armor.Fi. Joined Armor as one of its 'strategic investors' (31-1-2021).
• Balancer; part of a $12M funding round (2-2021).
• Bancor; from the Bancor blog (18-3-2021): "Has a position in the BNT token and will serve as strategic advisors to the Bancor protocol, advising on tokenomics, strategy and institutional liquidity provision."
• BoringDAO; mentioned as one of the investor partners on Boring's website (3-5-2021).
• The Defiant; one of many investors who took part in the $1.4M raise for Defiant Media (12-4-2021).
• DeversiFi; one of the participants of a $5M private token sale for 12% of the supply (18-5-2021).
• dYdX; participated in the Series B round of $10M (26-1-2021).
• InsurAce; participated in a $3M raise (4-3-2021).
• Furucombo; one of the participants in a $1.85$ raise (7-1-2021).
• Gitcoin. Is one of the funders (18-10-2020) of Gitcoin Grant round 7 (and possibly continues to do so).
• mStable; turned out to have a backdoor deal on tokens. From a Prime Rating report (7-2022): "In July 2020 community observed that some MTA tokens were unlocked unexpectedly and without announcement. Co-founder James Simpson admitted that the protocol team wasn't communicating clearly to the community about the deal and vesting schedule with a group of investors (DeFiance Capital, DACM, and Three Arrows Capital). Simpson explained the situation in this article."
• Nexus Protocol; mentioned on their website as an investor (4-11-2021).
• Orca; co-invested with 3AC.
• Rift Protocol; mentioned as a backer on the Rift website (21-3-2022).
• Set; part of their $14M raise (29-5-2021).
• Secret Network; bought SCRT in an OTC deal (16-1-2022).
• Swivel; participated in the S1.15M seed round, along many other participants (10-12-2020).

Team

• Is a founding member of Asia DeFi Network (ADN) according to the website (13-7-2021).