Why We Invested: MSafe In the realm of technology, there exists a unique allure to being a trailblazer. MSafe, or Momentum Safe, has pioneered the development of the inaugural multi-signature, non-custodial digital assets management solution for Aptos. Shima Capital is honored to have participated in MSafe’s recent seed funding round of $5 million and eagerly anticipates their forthcoming endeavors.

MSafe is built on emerging Web3 programming language Move. Shima Capital invested in MSafe based on the fundamental principle that a robust ecosystem and unparalleled security are crucial components of a successful blockchain infrastructure. At Shima Capital, we hold a firm conviction that the on-chain infrastructure is a fundamental aspect of any blockchain ecosystem, and MSafe’s mission aligns seamlessly with our mandate. We steadfastly believe that for any blockchain ecosystem to flourish, the underlying infrastructure and tooling layer must be fully mature.

Exciting Ecosystem

The broader Aptos ecosystem has strong backing in both the form of capital and parties involved. Aptos raised a $200M round in March 2022 and its backers include heavy hitters such as Tiger Global, Multicoin, and Coinbase Ventures, amongst others. Aptos, which had already accrued thousands of validators pre-mainnet launch, is primed for mass adoption and we expect MSafe to lead the way with their multi-sig wallet.

All About Security

The utilization of multi-signature technology is predicated on the paramount importance of security. Multi-sig protocols augment security by necessitating multiple private keys to authorize transactions, thus significantly diminishing the likelihood of the “key person risk” or single points of failure that inherently exist within any single-signature wallet, a persistent issue within the crypto industry. Additionally, single-signature wallets are vulnerable to human error and the unfortunate possibility of the loss or compromise of a private key, resulting in the loss of funds.

Technically Sound

Creating a crypto wallet for a popular-yet-untested, brand new layer 1, which prioritizes safety and security of the user(s), means having a team that is technically proficient to meet the needs. Cofounders Wendy Fu and Jacky Wang hail from Facebook/Libra and Harmony, respectively, each coming from solid blockchain engineering backgrounds. With two strong leaders in place, the rest of the team is now starting to fill out around them.

As Aptos continues to grow in adoption amongst both developers and institutional users, with MSafe growing in kind, Shima Capital will be right there with them, helping every step of the way.

About Shima Capital

Shima Capital is a leading early stage VC firm investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. Learn more at www.shima.capital.

— This post is for informational purposes only and does not constitute (i) an offer to sell or purchase any security or investment product or service, (ii) investment, legal, business or tax advice, or (iii) a basis for making any investment decision. Before making any investment decisions, it is strongly recommended you consult with a licensed financial advisor who can assess your specific investment needs and objectives. Accessing this post or any of its links or resources does not establish any form of relationship between the reader and Shima Capital Management LLC or its affiliates (“Shima Capital”). No representations or warranties are made as to the accuracy, completeness, reliability, or suitability of the information provided. All information is subject to change without notice and may not be updated. All forward-looking statements are based upon assumptions that may not prove to be correct.

The opinions and ideas expressed in this article are solely those of the author and do not represent the official stance or views of any employer, past or present.

Why We Invested: MSafe In the realm of technology, there exists a unique allure to being a trailblazer. MSafe, or Momentum Safe, has pioneered the development of the inaugural multi-signature, non-custodial digital assets management solution for Aptos. Shima Capital is honored to have participated in MSafe’s recent seed funding round of $5 million and eagerly anticipates their forthcoming endeavors.

MSafe is built on emerging Web3 programming language Move. Shima Capital invested in MSafe based on the fundamental principle that a robust ecosystem and unparalleled security are crucial components of a successful blockchain infrastructure. At Shima Capital, we hold a firm conviction that the on-chain infrastructure is a fundamental aspect of any blockchain ecosystem, and MSafe’s mission aligns seamlessly with our mandate. We steadfastly believe that for any blockchain ecosystem to flourish, the underlying infrastructure and tooling layer must be fully mature.

Exciting Ecosystem

The broader Aptos ecosystem has strong backing in both the form of capital and parties involved. Aptos raised a $200M round in March 2022 and its backers include heavy hitters such as Tiger Global, Multicoin, and Coinbase Ventures, amongst others. Aptos, which had already accrued thousands of validators pre-mainnet launch, is primed for mass adoption and we expect MSafe to lead the way with their multi-sig wallet.

All About Security

The utilization of multi-signature technology is predicated on the paramount importance of security. Multi-sig protocols augment security by necessitating multiple private keys to authorize transactions, thus significantly diminishing the likelihood of the “key person risk” or single points of failure that inherently exist within any single-signature wallet, a persistent issue within the crypto industry. Additionally, single-signature wallets are vulnerable to human error and the unfortunate possibility of the loss or compromise of a private key, resulting in the loss of funds.

Technically Sound

Creating a crypto wallet for a popular-yet-untested, brand new layer 1, which prioritizes safety and security of the user(s), means having a team that is technically proficient to meet the needs. Cofounders Wendy Fu and Jacky Wang hail from Facebook/Libra and Harmony, respectively, each coming from solid blockchain engineering backgrounds. With two strong leaders in place, the rest of the team is now starting to fill out around them.

As Aptos continues to grow in adoption amongst both developers and institutional users, with MSafe growing in kind, Shima Capital will be right there with them, helping every step of the way.

About Shima Capital

Shima Capital is a leading early stage VC firm investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. Learn more at www.shima.capital.

— This post is for informational purposes only and does not constitute (i) an offer to sell or purchase any security or investment product or service, (ii) investment, legal, business or tax advice, or (iii) a basis for making any investment decision. Before making any investment decisions, it is strongly recommended you consult with a licensed financial advisor who can assess your specific investment needs and objectives. Accessing this post or any of its links or resources does not establish any form of relationship between the reader and Shima Capital Management LLC or its affiliates (“Shima Capital”). No representations or warranties are made as to the accuracy, completeness, reliability, or suitability of the information provided. All information is subject to change without notice and may not be updated. All forward-looking statements are based upon assumptions that may not prove to be correct.

The opinions and ideas expressed in this article are solely those of the author and do not represent the official stance or views of any employer, past or present.