Jet Announces $6.8 Million Follow-on Round with Paradigm, Reciprocal Ventures, Solana Ventures and more

Earlier this year we were lucky enough to have an amazing cast of VC’s and angels join our seed round, which helped us spend much needed time and resources hiring world-class talent to build the Jet Protocol that you see now on mainnet today. Since then, we’ve identified additional destinations we want to set course to. We’re not just doing cross-margin borrowing and lending better, but have brought on on additional strategic investors to help usher more of Jet’s protocol, governance and extensible product ideas into the real world.

Decentralized borrowing and lending is a core component of DeFi, and Jet Protocol has been built to take advantage of the speed and throughput offered by Solana. I’m glad to see teams of this caliber with a strong commitment to open-source development continuing to chose Solana. — Raj Gokal, COO at Solana Labs

As we move into this next exciting leg of our journey post mainnet and JET token launch, we’re thrilled to partner with our new investors who have committed $6.8 million in capital.

Our Latest Investors:
Paradigm is an investment firm focused on supporting the great crypto companies, protocols, and currencies of tomorrow. Their approach is flexible, long term, multi-stage, and global. Paradigm often gets involved at the earliest stages of formation and supports their portfolio with additional capital over time. They take a deeply hands-on approach to help projects reach their full potential, from the technical (mechanism design, smart contract security, engineering) to the operational (recruiting, communications).

Reciprocal Ventures backs visionary entrepreneurs who are building the foundational protocols and applications of the decentralized web. Reciprocal acts as an extension of the teams they partner with, working side by side with portfolio companies on every aspect of development, such as token economics, active network participation, and decentralized governance.

Solana Capital is the strategic investment arm of Solana Labs. Solana Capital’s mission is to provide capital and resources to the most promising teams building on Solana and the broader digital asset and blockchain ecosystem, typically at pre-seed and seed stages.