HIC’s Fund II backs Mandala, Xcavate, Kylix and Hyperbridge to scale DeFi, RWAs and cross-chain interoperability
Hong Kong and Cayman Islands – July 29, 2025 – Harbour Industrial Capital (HIC), a leading investment firm focused exclusively on the Polkadot Ecosystem, announced a $1.2 million USD investment across four high-impact ventures: Mandala Chain, Kylix Finance, Xcavate and Hyperbridge. This strategic deployment underscores Harbour Industrial Capital’s long-term commitment to advancing decentralised finance (DeFi), tokenisation of real world assets (RWA) and cross-chain interoperability within the Polkadot network
“Polkadot is already the most advanced place to build Web3 applications,” explained the firm’s CEO, Max Rebol. “”With the upcoming Polkadot Hub upgrade and the rollout of JAM, it will become even more apparent. While many funds have yet to catch on, we’re proud to lead from the front.” Through its Fund II, Harbour Industrial Capital is taking a position at the center of the Polkadot ecosystem, and will continue to actively deploy capital throughout 2025.
Mandala Chain: Building Scalable Country Chains
Mandala Chain is developing a high-performance, scalable blockchain infrastructure in Indonesia and beyond, tailored for local enterprise and government adoption applications. Harbour Industrial Capital’s funding will accelerate Mandala Chain’s roadmap and regional expansion, including the deployment of its mainnet and partnerships with key industry players.
“Mandala is reshaping digital infrastructure across identity, medical records, financial services, asset tokenization, and logistics. Backed by strong partnerships with government entities, financial institutions, and leading enterprises, Mandala is well-positioned to onboard the first 100 million users in Indonesia and scale its impact beyond national borders,” said Mario Altenburger, CIO of Harbour Industrial Capital.
Michael Bennallack, co-founder of Mandala Chain, added: “HIC was our first external supporter, believing in the Mandala Chain vision since day one. We are grateful to Max and Mario for backing a technology that can drive meaningful change in emerging markets.”
Xcavate: Unlocking Tokenised Real Estate
Xcavate is leveraging Polkadot’s infrastructure to bring fractional real estate investment to life, starting with the UK market.
“Real estate is long overdue for disruption,” said Max Rebol, CEO of HarbourIndustrialCapital. “The real estate industry suffers from inefficiencies, misaligned incentives, and operational complexities. Xcavate’s team brings the right domain expertise and blockchain fluency to lead that change.”
Richard Houldsworth, Co-Founder and CTO of Xcavate, said: “This early-stage investment from HIC has been a crucial driver to allow us to move the Xcavate project forward and meet our goal of a Q3 2025 mainnet launch and token generation event.”
Kylix Finance: Empowering Decentralised Lending
Kylix Finance is revolutionising DeFi with its new cross-chain lending and borrowing protocol, designed to enable seamless access to native liquidity across multiple blockchains. Built for chain-abstraction and native cross-chain interoperability, Kylix eliminates the need for wrapped assets or bridges, creating a new era of secure, capital-efficient lending. Harbour Industrial Capital’s investment will support the continued expansion of the Kylix protocol and integration with additional blockchains.
“Polkadot which is built for interoperability from the ground up is arguably the best place to host a cross-chain lending market, and Kylix Finance’s innovative approach aligns perfectly with our vision for a more interconnected financial ecosystem centered around Polkadot.” said Max Rebol, CEO of Harbour Industrial Capital.
Gianluigi Davassi, CEO of Kylix Finance, shared: “We’re not just building another lending protocol, we’re building the foundation for a cross-chain DeFi layer that connects ecosystems. The support of Harbour Industrial Capital is a critical milestone: Their deep understanding of Polkadot’s vision for interoperability gives us the strategic edge to scale faster, expand into new markets, and continue pushing the boundaries of what’s possible in decentralised finance.”
Hyperbridge: Enabling Next Generation Bridging
Hyperbridge, a next-generation cross-chain bridging technology, enables secure and efficient asset transfers between independent blockchain networks, including the Ethereum L2s. Harbour Industrial Capital’s investment will support Hyperbridge’s efforts to enhance its protocol and improve bridge liquidity.
Max Rebol, CEO of Harbour Industrial Capital, explained his investment thesis, “I still remember the high-profile bridge hacks of 2022 and 2023, where hundreds of millions in user funds were stolen. Hyperbridge on the other hand is a next generation bridge, and rather than relying on a few multisigs, user funds are underwritten by the cryptoeconomic security of the entire Polkadot network”.
Seun Lanlege, co-founder of Polytope Labs, the developer of Hyperbridge, commented on HIC’s investments: “We feel lucky to have a partner like HIC that believes in our mission and trusts us to deliver. Preserving users’ funds is dependent on secure interoperability; this is the promise we have delivered on and continue to iterate upon.”
For more information about HarbourIndustrialCapital and its investment portfolio, please visit harbourindustrial.com or follow us on X.
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About Harbour Industrial Capital
HarbourIndustrialCapital is a BVI-approved manager led by Max Rebol and Mario Altenburger. It is currently operating two separate Cayman Island limited partnerships: HICFundILP launched in 2022 with LPs from Asia, Europe and the Middle East; HICFundIILP launched in early 2025 and is currently open for subscriptions to professional investors. Both funds are focused exclusively on early stage venture investments in the Polkadot ecosystem.
Note: Specific details about the investment amounts and terms were intentionally not disclosed in this release. For inquires, please contact HarbourIndustrialCapital directly.
About Polkadot
Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.
