Lighter Secures $68 Million to Drive Institutional DeFi Expansion Despite Market Hesitancy

Lighter, a decentralized protocol for perpetual trading, has raised $68 million in fresh capital, with Peter Thiel's Founders Fund and fintech-focused Ribbit Capital leading the investment. Haun Ventures and Robinhood also joined the round. With this latest injection, Lighter’s total funding approaches $90 million, and the company is now valued at about $1.5 billion, according to individuals familiar with the transaction. The funds are earmarked for improving on-chain transparency and transaction speed for institutional participants in decentralized finance (DeFi), as reported by Fortune and

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This investment arrives during a period of heightened crypto venture capital activity. In early November 2025, the crypto industry attracted $1.015 billion in funding across 21 initiatives, including a $500 million strategic round for Ripple Labs and $200 million raised by Lava. The majority of investments targeted payment infrastructure and stablecoin projects, highlighting the increasing interest from institutions in blockchain-powered financial solutions, according to a

. Lighter’s recent fundraising highlights ongoing investor trust in DeFi projects, even as the broader market remains cautious.

Vladimir Novakovski, the 40-year-old founder and CEO of Lighter, noted that the round included both equity and token subscription rights. While he did not publicly confirm the company’s valuation, he stressed the importance of this funding for scaling Lighter’s infrastructure. “This capital will help us advance our goal of providing secure, high-speed trading services for institutional users,” Novakovski stated. Previously, Lighter secured $21 million in a round led by Haun Ventures and Craft Ventures, according to the

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The crypto investment landscape has begun to stabilize after a period of contraction. Earlier this year, venture funding in the sector slowed as investors became more discerning. However, significant raises by Lighter and Ripple suggest that investors remain interested in strategic infrastructure ventures. “Backers are focusing on platforms that offer tangible utility and the potential for long-term growth,” said a participating venture capitalist who requested anonymity.

Macroeconomic trends, such as fluctuating interest rates and regulatory changes, have influenced the funding environment for crypto startups. Nonetheless, specialized areas like DeFi and stablecoin infrastructure continue to attract investment. For instance, Arx Research recently obtained $6.1 million to build hardware supporting stablecoin use by merchants, while Digital Asset raised $135 million to expand its blockchain network, according to a

. Lighter’s commitment to institutional-grade trading fits this pattern, as companies look to connect traditional finance with decentralized platforms.

As DeFi continues to develop, Lighter may encounter competition from both established exchanges and new protocols. Still, its focus on transparency and transaction speed could help it attract clients seeking robust, high-performance solutions. With the latest funding, Lighter intends to further integrate its platform into institutional processes, potentially expanding its reach among asset managers and hedge funds.