We're excited to announce our oversubscribed $75M Portal Ventures Fund 2. Portal exclusively leads crypto pre-seeds with the first check in. Since 2022, we've backed numerous category creators as day-one supporters. Across our two funds we’ve raised $115M. We focus on putting

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1/ Considered the holy grail of encryption, Fully Homomorphic Encryption (FHE) will bring paradigm shifts to data ownership and usage. We published a deep dive into FHE by @evanbfish and @vikramcantsingh. Here’s a short thread walking through an overview:.

Link to article below:.

We'll be putting on some side events around Urbit Assembly. Drop us a line if you'll be there ⬇️.

7/ Shoutouts to @randhindi & @linfluence for conversations that helped guide us. A huge shoutout to @khushii_w for her support and review.

8/ Value and computation are transitioning to open, permissionless networks, and we believe FHE will underpin much of the required infrastructure and applications. If you're building in FHE or exploring ideas across the category, get in touch!.

6/ After great conversations at the @fhe_org conference and @RealWorldCrypto this year, we realized commercialization is approaching. We've been digging into the category since then.

5/ What use cases are we excited about?. 1) Private transactions and smart contracts.2) Private information retrieval.3) Preventing MEV front running.4) Secure AI.5) Enabling data economies.6) DAOs and governance.7) Post-Quantum Applications.

4/ How does FHE solve this?. FHE solves this by enabling computation on encrypted data. The server no longer needs to decrypt your file. It just performs the analysis on encrypted data itself. There is no need to decrypt and no trust assumption.

3/ Why do we need FHE?. Current server-client solutions are broken from a security point of view. They involve sending encrypted data which is then decrypted at the company’s server. Suddenly, your ciphertext data is now plaintext and exposed to possible misuse.

2/ What is FHE?. FHE is a technique that allows computation to be performed on encrypted data without decrypting it. What does this mean? No one – except you – should ever see your data, but you can still use third-party data analysis tools on top of your data.