Mesh Valuation, Funding & Investors

OPN Holdings is a payments technology company founded in 2015 and based in Singapore. The company provides Omise, an online payment business, and OPN, which offers solutions across financial services and blockchain technology. A role model for global startup development by Japanese entrepreneurs, the company was founded in Thailand and has expanded to Japan, Singapore, Indonesia, Vietnam, and Malaysia. The company serves business and institutional customers through products and services in the payments technology market. Its commercial model is built primarily on payment-processing fees, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its Middle to Growth portfolio and records May 2022 for the company. The company maintains its operating website at www.opn.ooo, while JIC VGI's portfolio materials preserve the public record of the investment relationship.

zerohash is a New York-headquartered infrastructure provider for crypto on-ramps and stablecoin payments. Its API enables trading, remittances, and tokenization within apps and wallets. zerohash ensures compliance with US regulations for clients like payroll platforms.

Circle Internet Group Inc is a financial technology firm engaged in digital currencies and public blockchains for payments, commerce, and financial applications. The company's platform is a full-stack, internet financial platform business, organized around three pillars: Arc Blockchain and Developer Infrastructure, Circle Digital Assets and Services, and Circle Applications.

Andalusia Labs is a blockchain infrastructure provider building tools for decentralized economic systems. The company develops protocols for token issuance, liquidity management, and cross-chain interoperability, supporting web3 applications in DeFi and digital asset markets.

Axelar Network is a privately held technology company active in crypto & web3 platforms. Axelar Network is a decentralized interoperability platform launched in 2020 that connects disparate blockchain ecosystems, applications, and users through a suite of protocols, tools, and APIs. Developers leverage it to enable cross-chain composability, liquidity transfer, and dApp functionality across Cosmos, EVM, and other chains from a single integration point. The product serves B2B customers through software, digital infrastructure or an online application. The company's commercial model is based on usage-based fees, depending on the feature or transaction used. Its operating role is to build and maintain the product rather than to manage a third-party investment fund. Morningstar Ventures identifies Axelar Network as a portfolio company and provides a first-party record of the investor's financing. The public evidence supports the company's product role and investment relationship while leaving any undisclosed headquarters, founding date and ownership terms unset.

Bitfury Group is an Amsterdam-headquartered full-stack blockchain company providing hardware and software infrastructure. It manufactures ASIC miners, develops the Exonum blockchain framework, and operates large-scale mining facilities in Georgia, Iceland, and Sweden. Founded in 2011, Bitfury serves governments and enterprises with secure asset transfer solutions.

Endless is a protocol simplifying Web2 to Web3 application migrations. It offers developers a comprehensive platform for building Web3 apps while delivering seamless user experiences comparable to Web2 interfaces.

Fasset is a Dubai-headquartered Islamic digital bank utilizing blockchain technology. It allows users worldwide to save, invest, send, and spend via a mobile app compliant with Sharia principles. Backed by investors like Liberty City Ventures and Fatima Gobi Ventures, Fasset launched in 2021 to serve Muslim communities globally.

Flying Tulip is a decentralized finance protocol founded by Andre Cronje, with integrated trading, lending and ftUSD products. Its native token is FT. Qualifying primary-allocation positions carry a perpetual PUT redemption right under the protocol’s terms.

Gauntlet is a Chicago-based risk management platform for DeFi protocols, blockchains, and on-chain treasuries. The company models economic incentives, simulates stress scenarios, and optimizes parameters like liquidation thresholds and borrow limits. Gauntlet serves clients including Aave, Compound, and major layer-1 networks to enhance capital efficiency and protocol resilience.

Injective Labs develops Injective, a layer-1 blockchain optimized for financial applications within the Cosmos ecosystem. Injective supports interoperability with Ethereum and Cosmos IBC, enabling developers to build decentralized exchanges, prediction markets, and lending protocols. The network processes over 25,000 transactions per second with sub-second finality and offers fee-free trading through its on-chain orderbook. Headquartered in Dubai, Injective Labs launched mainnet in 2021 and has secured partnerships with entities like Deutsche Telekom and Google Cloud for infrastructure. The platform hosts applications such as Helix DEX and DojoSwap, attracting more than $500 million in total value locked across DeFi protocols.

Mocaverse is a Hong Kong Web3 identity, loyalty and engagement platform developed by Animoca Brands from 2022. Its Moca ID product gives users a portable digital identity that can connect activity across games, entertainment projects and online communities. The platform's Realm Points and related loyalty tools let users earn reputation and benefits through participation and redeem them across partner experiences. Game publishers, creators and other Web3 projects use the network to acquire users, coordinate campaigns and recognize activity across otherwise separate applications. Consumers use one identity to access content, rewards, digital assets and community programmes. Mocaverse's economics include digital assets, token-linked programmes, partnerships and services provided to projects in the Animoca network and the broader Web3 market. Polygon Ventures joined the USD 11.888888 million second financing tranche announced in December 2023 after an initial USD 20 million tranche.

Fawry is an Egyptian electronic-payments and financial-services platform founded in 2008 and headquartered in Cairo. It connects consumers, merchants, banks, billers and government entities through physical points of sale and digital channels. Services include bill payment, merchant acceptance, collections, mobile transactions and adjacent financial products. Revenue comes from transaction fees, commissions and services sold across its payments network. Fawry is listed on the Egyptian Exchange and operates as a regulated technology-enabled payments company. ADQ acquired a 12.6% minority position in 2022 through the same negotiated Egyptian share-purchase program that covered four other listed companies. Its hybrid network links digital rails with a broad merchant footprint, supporting cash and electronic payment use cases.

Jiangsu Tongxingbao Intelligent Transportation Technology Co Ltd is engaged in providing intelligent transportation platform solutions for expressways, arterial roads and urban transportation.

Optasia is a B2B2X AI-powered fintech platform covering scoring, financial decisioning, disbursement and collection. The company operates across Africa, the Middle East, Asia, Europe, and Latin America. Its services include: Micro Lending, Airtime Advance, and Data Monetization.