Superstate, an asset management firm utilizing blockchain technology, closed $14 million in Series A funding. 

The web3-focused investment firms Distributed Global and CoinFund co-led the round, which saw additional participation from Breyer Capital, Galaxy, Arrington Capital, Road Capital, CMT Digital, Folius Ventures, Nascent, Hack VC, Modular Capital and Department of XYZ. 

"The first close was oversubscribed — we’ve kept space in the round available for strategic investors," Superstate co-founder and CEO Robert Leshner told The Block. "Rather than wait until the full round is complete, we are announcing the round now and will release additional details on the full close in the future." 

Leshner added that the firm's policy is to not disclose non-public items such as …