Raven, a crypto proprietary trading firm co-founded by three former Wintermute employees, has emerged from stealth with a $2.7 million seed funding round.

Hack VC led the round, with Wintermute Ventures and several undisclosed angel investors participating, Raven said Tuesday.

The firm began raising for this round last November and closed it last month, co-founder Petar Kostov, a former DeFi software engineer at Wintermute, told The Block. He said this was an equity round, and there is no token planned — adding that the round brought Raven's valuation to $25 million.

Kostov noted that Hack VC partner Roshun Patel has joined Raven's board of directors as part of the deal. Kostov co-founded Raven in January 2023 with Yuriy Myronovych, former head of DeFi and senior software architect at …