Fenwick Represents Mysten Labs in $300 Million Series B Financing

Fenwick represented Mysten Labs, a web3 infrastructure company and developer of the Sui Layer 1 blockchain, in its $300 million Series B financing, bringing its valuation to over $2 billion. The round was led by FTX Ventures and included participation from a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital and O’Leary Ventures, among other investment firms and strategic partners.

The funding will enable Mysten Labs to expand its stellar team to accelerate Sui’s launch, invest in the Sui ecosystem and continue their expansion into the APAC region. More information can be obtained from the company’s announcement.

The transaction was led by the Fenwick Blockchain team.