Theo, a provider of onchain trading infrastructure, has raised $20 million from 17 investors to enhance its institutional-grade trading platform aimed at retail investors.
The funding round was co-led by Hack VC and Anthos Capital, with additional participation from venture capital firms Manifold Trading, Miranda Ventures, Flowdesk, MEXC and Amber Group, Theo disclosed on April 24.
Citadel, Jane Street, IMC and JPMorgan were listed as angel investors in the deal.
Created by former quant traders, Theo gives retail investors access to advanced strategies like high-frequency trading and market making, which are tools typically used by professional trading firms.
Theo’s infrastructure can be used across centralized exchanges and decentralized financing protocols, the company said.
The Theo network secures nearly $29 million in total value locked as of April 23, according to industry data.
Theo’s total value locked is down from its peak in February. Source: DefiLlama
Theo is part of a wave of