Dfns Advances with ADQ Investment in Crypto Tech
Deal News | Jan 15, 2025 | Zawya
ADQ-backed Further Ventures, a venture building and investment firm from Abu Dhabi, has led a $16 million Series A funding round into the French crypto wallet technology firm Dfns. This round also attracted investment from Bpifrance and other entities. Dfns, headquartered in Paris, plans to use the funds to enhance its technological offerings and expand its business presence across various markets, including the UAE, the EU, the UK, and the US. Dfns offers a technology solution that helps businesses manage digital assets on blockchains, and aims to attract more financial institutions, payment services, investment apps, and corporate treasuries to utilize its infrastructure. This aligns with ADQ’s previous roll out of the $180 million technology-focused Jasoor Fund, created in cooperation with the Oman Investment Authority, to support growth in sectors such as fintech, cleantech, and logistics, indicating a strategic impetus towards strengthening digital asset frameworks.
Sectors
- Cryptocurrency
- Venture Capital
- Financial Technology (Fintech)
Geography
- United Arab Emirates – ADQ, the investor, is backed by the UAE, specifically Abu Dhabi's sovereign wealth fund.
- France – Dfns, the target company for investment, is headquartered in Paris, France.
- European Union – Dfns intends to expand its operations within key EU markets, supported by the Series A funding.
- United States – The US is identified as a key market for Dfns’ growth strategy, posited in the article.
Industry
- Cryptocurrency – The article discusses an investment in Dfns, a company specializing in cryptocurrency wallet technology, which aligns it with the cryptocurrency industry.
- Venture Capital – Further Ventures' investment in Dfns represents activity within the venture capital sector.
- Financial Technology (Fintech) – Dfns provides digital wallet solutions, an integral part of fintech, aiming to enhance financial services through blockchain technology.
Financials
- $16 million – The investment made by Further Ventures in Dfns during the Series A funding round.
- $180 million – Capital of the Jasoor Fund aiming to bolster the digital economy in several tech sectors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Further Ventures | Lead Investor | Company | Abu Dhabi-backed venture building and investment firm investing in Dfns. |
| Dfns | Target Company | Company | Paris-based crypto wallet technology firm receiving investment. |
| ADQ | Investor | Company | Sovereign wealth fund of Abu Dhabi that supports Further Ventures. |
| Bpifrance | Investor | Company | French public investment bank participating in the Series A round. |
| Oman Investment Authority | Investor | Company | Partner in creating the Jasoor Fund, focused on tech investments. |
| Jasoor Fund | Investment Fund | Company | A $180 million fund launched by ADQ and Oman Investment Authority focusing on technology sectors. |