Xavier Meegan, former CIO of Chorus One, launches Frachtis, a $20 million Pre-Seed fund to support Crypto-Native startups.

Lisbon, Portugal – June 23, 2025 – Xavier Meegan, former Chief Investment Officer (CIO) and Head of Research at Chorus One, one of the largest staking providers, has announced the launch of Frachtis, a $20 million Pre-Seed fund supported by investment institutions such as Theta Capital and other Crypto-Native investors such as RockawayX, Chorus One, and Cyber Fund.

Frachtis' first fund will focus on supporting technically proficient founders in the Crypto-Native space who are building projects in decentralized AI, Middleware, Infrastructure, and Consumer Apps.

Meegan said that Frachtis has uniquely positioned itself in the crypto Venture Capital market as a technically focused VC with a Crypto-Native team experienced in operating and scaling blockchains. "Frachtis was created to support technically proficient founders who are deeply committed to building great and innovative crypto products. Our strength is seeing what's coming next because we deeply understand blockchain infrastructure and have helped scale real products before."

During his time with Chorus One, Meegan led over 40 investments and managed a research team that analyzed blockchain infrastructure. At that time, Venture Capitalists (VCs) were Chorus One's primary clients.

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