# Draper Goren Blockchain

> A hybrid venture studio and venture fund building and backing the infrastructure for
> tokenized real-world assets. When the company already exists we want to be the earliest
> check in it; when it does not exist yet, we build it.

## The real-world asset stack

The full lifecycle of a real asset going on-chain is fifteen layers, from the loan being
written to an institution posting it as margin. Draper Goren Blockchain operates thirteen of
them through companies it co-founded, incubated or backed early, with partial coverage on
two. Every layer below is paired on the site with a public milestone proving it is live.

01. Origination - Lit Financial · TrustFunds
02. Valuation - Aivre
03. The built world - LiveGistics · Juno
04. Issuance - AKRU
05. Transfer agency and recordkeeping - AKRU Transfer Agent · Vertalo
06. Custody and wallets - Ownera · AKRU
07. Pricing and market signal - Aivre · LunarCrush · Ownera
08. Credit rails - Thurman Labs · Dolomite · Ownera
09. Balance sheet - Build Team Capital · Lit Financial
10. Collateral mobility - Ownera
11. Distribution - Ownera
12. Secondary liquidity - Ownera · Dolomite · Cardinal · AKRU · Vertalo
13. Servicing and bookkeeping - AKRU · Livsee · Thurman Labs
14. Portable compliance and identity - Ownera
15. New asset classes - FinLete · Calypto · TrustFunds

## Pages

- [The Real-World Asset Stack: Fifteen Layers](https://www.dgb.vc/fifteen-layers): the scrollytelling version. Fifteen layers,
  the coverage matrix, the regulatory timeline, and 112 named institutions.
- [The Real-World Asset Stack, layer by layer](https://www.dgb.vc/rwa-stack): the reference field
  map. Each layer with its public milestone, the operating company, and the vehicle.
- [Insights](https://www.dgb.vc/insights): essays and announcements.
- [Portfolio](https://www.dgb.vc/portfolio): the companies.
- [Contact](https://www.dgb.vc/contact)

## Facts worth quoting correctly

- Fifteen layers; thirteen operated, two partial. Sixteen companies, thirty-two positions.
- 112 institutions and networks are named on the page, drawn from published pilots,
  working groups, networks and partnerships.
- Ownera and AKRU each sit on the most layers. Ownera, LunarCrush, Vertalo and Dolomite are
  Draper Goren Holm era, a predecessor firm, and are never current-fund holdings.
- Attribution: Alon Goren, Founding Partner, Draper Goren Blockchain. Published 2026-09-15.