Bala Varadhan
Principal
About
Bala Varadhan is a Principal at F-Prime. Before joining F-Prime, Bala was with Avon Ventures and previously honed his expertise at the Boston Consulting Group (BCG), where he specialized in private equity due diligence and growth strategy. Bala’s career also includes roles in private equity and law, which have equipped him with a strong foundation in investment and transactional analysis.
Bala holds an MBA from the Kellogg School of Management, a JD from the Pritzker School of Law, and dual B.A.s in Economics and Liberal Arts from The University of Texas at Austin. His interest in the crypto space began in 2013 with his initial exposure to Bitcoin.
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Alluvial is a software development company supporting the development of the Liquid Collective protocol. Alluvial is focused on the overall growth and maturity of the ecosystem by fostering participation in proof of stake blockchains. Learn more at alluvial.finance.com.
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Category
- Crypto
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Status
- Private
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Location
New Castle, DE
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Year Invested
2023
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Team
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Asymmetry Finance is a groundbreaking DeFi protocol designed to decentralize Ethereum by making complex strategies with market leading yield and asymmetric upside accessible to the next billion Web3 users. Learn more at asymmetry.finance.
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Category
- Crypto
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Status
- Private
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Location
England, UK
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Year Invested
2024
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Team
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CLST (pronounced “Caeleste”) is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional lenders. CLST Markets integrates next generation features such as automated collateral management, counterparty risk assessments, interest rate benchmarking, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. CLST aims to resolve market uncertainties and scaling issues in uncollateralized and collateralized lending and borrowing of stablecoins and crypto assets. Learn more at www.clst.com.
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Category
- Crypto
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Status
- Private
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Location
Zurich, Switzerland
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Year Invested
2022
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Team
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DUST Identity is a leading authentication and anchored digital thread solution for real-world objects that connects data to physical things. DUST Identity’s award-winning anchored digital thread solution delivers the ability to track and trace an object’s pedigree and provenance throughout its lifecycle – providing access to the right information at the right place and time. Learn more at www.dustidentity.com.
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Category
- Crypto
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Status
- Private
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Location
Newton, MA
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Year Invested
2021
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Team
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Eaglebrook is a crypto investment platform that provides RIAs with direct access to bitcoin and digital assets. The firm operates one of the largest SMA Platforms in the crypto market. Eaglebrook’s investment platform offers access to tax optimized Bitcoin and Ethereum separately managed accounts (SMAs) and third-party investment manager strategies held at an institutional qualified custodian. Learn more at www.eaglebrook.com.
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Category
- Crypto
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Status
- Private
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Location
Miami, FL
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Year Invested
2021
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Team
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Ethena is a digital finance company focused on providing innovative solutions within the cryptocurrency and blockchain sectors. The company offers services such as developing and managing stablecoins, which are cryptocurrencies pegged to traditional assets like the US dollar to minimize price volatility. Additionally, Ethena operates in the decentralized finance (DeFi) space, enabling users to participate in financial activities like lending, borrowing, and trading without traditional intermediaries through the use of smart contracts on blockchain networks. Ethena also provides tools for managing digital assets, helping users securely store, transfer, and utilize their cryptocurrencies with services like wallets and investment products. The company is committed to leveraging blockchain technology for its transparency, security, and efficiency, aiming to bridge the gap between traditional finance and the digital economy. Through these efforts, Ethena makes it easier for individuals and businesses to adopt and benefit from cryptocurrency technologies. Learn more at ethena.fi.
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Category
- Crypto
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Status
- Private
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Location
Lisbon, Portugal
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Year Invested
2024
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Team
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Figment’s purpose is to build a better Internet by increasing usage of the next generation of Proof of Stake blockchains. These efficient blockchains give people greater control of their data, more privacy, and increase financial inclusion. By eliminating intermediaries they also limit the power of centralized data monopolies, rent seeking institutions and anti-social algorithms. Learn more at figment.io.
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Category
- Crypto
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Status
- Private
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Location
Toronto, ON
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Year Invested
2021
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Team
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Grove provides node infrastructure services for applications, enterprises, and users to interact with blockchains. At its core, Grove is a RPC (Remote Procedure Call) service that enables users to read and write data to over 40 blockchains. Grove is built on top of the Pocket Network, a global, decentralized network of nodes. Through their portal, Grove provides a performance layer that enhances the reliability and scalability of Pocket while also ensuring the high quality service users demand. Learn more at grove.city.
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Category
- Crypto
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Status
- Private
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Location
Tampa Bay, FL
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Year Invested
2023
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Team
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Hoseki builds financial plumbing for the bitcoin-native economy that allows investors to verify and use their holdings in ways that were previously inaccessible. By empowering bitcoin holders with a standardized proof-of-assets service, Hoseki will unleash the bitcoin economy to be larger and more active than ever. Learn more at hoseki.app.
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Category
- Crypto
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Status
- Private
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Location
Austin, TX
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Year Invested
2022
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Team
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Intuition provides decentralized infrastructure, developer tools, and applications enabling the creation of an open, flexible knowledge graph enhancing the quality and availability of social knowledge. Learn more at intuition.systems.
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Category
- Crypto
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Status
- Private
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Location
San Juan, PR
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Year Invested
2023
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Team
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Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Kiln runs validators on all major PoS blockchains, with over $4b of crypto assets being programmatically staked and over 4% of the Ethereum network, running on a multi-cloud, multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators, reporting and commission management, enabling custodians, wallets and exchanges to streamline staking operations across providers. Kiln is SOC2 Type 2 certified. Learn more at www.kiln.fi.
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Category
- Crypto
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Status
- Private
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Location
Paris, France
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Year Invested
2022
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Team
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In 1999, Napster changed the music industry forever when it launched the world’s first peer-to-peer music sharing service. Peaking at 85M users, for many, Napster was not only their first experience of digital music but also their first real social media experience. Napster is now once again gearing to revolutionize the music industry, evolving music streaming from being an access-based monthly subscription model to a social music platform and marketplace that connects artists and fans, unlocking unprecedented new creative and commercial opportunities. Learn more at www.napster.com.
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Category
- Crypto
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Status
- Private
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Location
Seattle, WA
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Year Invested
2023
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Team
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Paradigm is a unified, non-custodial liquidity network for crypto derivatives traders across CeFi and Defi. The free-to-use platform provides a single point of access to multi-asset, multi-leg, multi-protocol liquidity on-demand, without compromising on price, size, execution costs and immediacy. Learn more at paradigm.co.
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Category
- Crypto
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Status
- Private
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Location
Singapore
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Year Invested
2021
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Team
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Path provides retail investors the ability to invest in broad based baskets of crypto assets, access to trading bots, and automated portfolio management tools. The company offers direct access to curated, pre-built portfolios that are easily integrated to a customer’s exchange account with automatic purchasing and rebalancing. Learn more at www.pathcrypto.com.
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Category
- Crypto
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Status
- Private
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Location
Chicago, IL
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Year Invested
2021
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Team
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Puffer is defining a new industry standard for secure validator operations with the primary objective of preserving decentralization, with Anti-Slashing technologies designed to minimize the chance of slashing events. The company’s Secure-Aggregator technology provides the foundation to build a secure, scalable, and performant liquid staking protocol. Allowing permissionless and capital-efficient Node Operator (NoOp) participation allows anyone to join the PufferPool to help preserve Ethereum’s decentralization. Learn more at www.puffer.fi.
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Category
- Crypto
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Status
- Private
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Location
San Francisco, CA
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Year Invested
2024
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Team
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RDC (Receipts Depositary Corporation) is the first depositary that aims to make it as easy for QIBs to own digital and alternative assets as traditional securities. Using the DR construct that has been trusted by investors for nearly a century, the RDC platform provides asset protection, transparency, risk minimization and operational ease. RDC is not a bank and is not registered as a broker, dealer or investment adviser in any jurisdiction. Learn more at receiptsdepo.io.
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Category
- Crypto
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Status
- Private
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Location
New York, NY
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Year Invested
2022
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Team
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Space and Time is the first decentralized data warehouse that delivers sub-second ZK proofs against onchain and offchain data to power the future of AI x blockchain. Learn more at spaceandtime.io.
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Category
- Crypto
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Status
- Private
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Location
Los Angeles, CA
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Year Invested
2024
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Team
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Founded in 2018, VALR is a global cryptocurrency exchange serving over 1,000 corporate and institutional clients and close to 700,000 users worldwide. Headquartered in Johannesburg, VALR is licensed by the Financial Sector Conduct Authority (FSCA) in South Africa, approved to offer services in Europe, and has received initial approval from Dubai’s VARA. Learn more at valr.com.
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Category
- Crypto
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Status
- Private
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Location
Sandton, South Africa
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Year Invested
2022
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Team
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