According to Cointelegraph, DeFi asset management protocol Velvet Capital has announced the completion of a $3.7 million funding round, with participation from YZi Labs and Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindfulness Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, and DWF Ventures. This funding accelerates Velvet's mission to provide frictionless portfolio management and trading for funds, DAOs, and individual traders, while also driving the launch of its new governance and utility token, Velvet. [ChainCatcher]