On July 9, according to Fortune, Gauntlet—a $DeFi asset management and risk analysis company—raised $125 million in funding, exclusively invested by Japanese financial group SBI Holdings. The funding round was completed in June of this year, and the specific valuation was not disclosed. This is Gauntlet’s largest funding round since its founding in 2018, significantly surpassing its $24 million Series B round in 2022, which was led by Ribbit Capital at a $1 billion valuation.
Gauntlet was founded by former Wall Street quantitative trader Tarun Chitra. Initially, it focused on providing stress-testing and vulnerability analysis services for $DeFi protocols. As DAO governance models waned, Gauntlet gradually pivoted to “treasury curation”—using quantitative analysis to assess yield strategy risks and helping institutional investors manage digital asset allocations. Its current clients include asset management giant Apollo, Coinbase, and stablecoin issuer Circle.[TechFlow]