Shield Becomes Part of the Eterna Capital Portfolio

Eterna Capital
3 min readApr 20, 2023

We are excited to officially announce our recent investment into Shield.

OFFICIAL ANNOUNCEMENT here.

Shield is a Web3 security startup that certifies Web3 projects to ensure they maintain the highest security standards while fostering growth and innovation.

Our investment in their recent $2.1m round was backed by a16z, Kraken Ventures, Alchemy, Moonpay, NGC, among others. They were also selected to participate in the a16z Crypto Startup School accelerator program.

Web3 has seen rapid growth, yet there remains a crucial problem, security. In 2022, Web3 lost nearly $4bn worth of digital assets to hacks, frauds, scams, and rug pulls. If we want to ensure the longevity and success of Web3, we need strong security infrastructure in place to protect the biggest assets to Web3, its users. With Shield’s focus on emerging threats and its vision to create products that facilitate growth and innovation while maintaining top-notch security standards, we believe Shield has the ability to mitigate these threats to Web3 and protect its users.

Shield’s security stack already protects 350,000+ users and boasts notable clients like Fox Sports, Rarible, and Guild.xyz. The company is committed to delivering advanced security solutions for businesses across various industries worldwide.

Shield currently has 2 products:

- A community security system: The Shield bot provides a firewall for Discord and Telegram communities to grow safely. It includes 24/7 monitoring for phishing links, scam user DM detection, NFT mint simulation & contract scans, self-service admin dashboard, bot & impersonator removal, and trending scam reporting

- Project Certification and Security: AI powered security that enables projects to build trust by showing their project is approved by Web3 experts and investors

With our participation in this round, we are pleased to be part of Shield’s vision to fortify Web3 security standards and their philosophy that security begets growth. This infrastructure will be paramount in helping Web3 reach mass adoption.

About Shield

Shield is a Web3 security start-up that certifies Web3 projects to ensure they maintain the highest security standards while fostering growth and innovation. Founded by a team of experienced professionals with backgrounds in top-tier technology companies and educational institutions, Shield offers a comprehensive suite of security solutions designed to protect and nurture the web3 ecosystem.

For more information, visit https://www.getshield.xyz/.

About Eterna Capital

Eterna Capital is a London-based investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.

For more information, visit www.eternacapital.com or follow Eterna Capital on LinkedIn and Twitter.

Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.

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