Rio Development Inc., the initial team supporting the development of the Rio Network, announced that it has raised a seed round co-led by Polychain Capital, Blockchain Capital, and Breyer Capital, including participation from over 50 investors.
“We met with 100+ investors around the world and selected the optimal syndicate for the 0 to 1 stage. We consider each of our investors to be core team members ‘hired’ to do specific jobs including research, business development, and risk management. In the emerging category of LRTs, we believe the endorsement from this syndicate sends a clear signal of category leadership to Restakers, Operators, and Actively Validated Services (AVS)” said Alan Curtis, co-founder and CEO at Rio Development Inc.
“Polychain Capital is excited to continue our support of the Eigenlayer restaking ecosystem with our investment in Rio Development Inc. We believe LRTs will be crucial in realizing the full potential of restaking and that the Rio team is uniquely equipped to lead this category and establish the gold standard for AVS risk management. We are proud to partner with Alan and Brandon as they bring restaking to the masses” said Bobby Beniers, Partner at Polychain Capital.
“With our investment, Blockchain Capital is tripling down on Alan and Brandon. In 2017, we led the Seed Round and Series A for RADAR, where Alan and Brandon built frontier crypto infrastructure (DEX, LN, Staking, MEV) before getting acquired by Core Scientific. After helping take Core Scientific public, we doubled down and recruited Alan and Brandon back to BCAP to build and lead our Platform and Network Participation efforts. Now we’re tripling down and we’re thrilled to help support the development of a dominant LRT network” said Spencer Bogart, General Partner at Blockchain Capital.
“Alan is a repeat founder with a track record of success and Brandon is a trailblazer propelling the industry forward. In one of the most competitive financings in this sector, we’re thrilled to co-lead and help Rio Network become the category leader” said Ted Breyer, Partner at Breyer Capital.
About Rio Development Inc.
Rio Development Inc., founded in 2023, is the team behind the initial development of Rio Network. Rio Network is a network for issuing Liquid Restaking Tokens, with a mission to provide access to risk-managed ETH total return without sacrificing liquidity. Rio Network executes against this mission by coordinating AVS selection and weighting, operator selection and management, liquidity and asset mix for restaked deposits, and efficient aggregation of restaking rewards.
To learn more and stay up to date, visit the Rio Network website, follow on Twitter, or join the community on Discord.
Media Contact
Company Name: Rio Development Inc.
Contact Person: Alan Curtis
Email: Send Email
Country: United States
Website: https://www.rio.network/