201801 / 06
About DWF Labs
From trading to market infrastructure.
DWF Labs is a market-tested investor, ecosystem facilitator, and market maker built to strengthen digital asset infrastructure at scale.
Our guiding thesis is that markets cannot function without deep, reliable liquidity.
The absence of liquidity leads to illiquid tokens, distorted price discovery, and infrastructure that fails when tested.
A digital asset market maker, investor and ecosystem partner
Since 2022, DWF Labs supplied institutions, builders, and individuals, with the liquidity, capital, ideas, and infrastructure required to make markets operate more efficiently, transparently, and fairly.
With an ecosystem-first focus, the firm takes a differentiated approach to investing. Beyond capital deployment, DWF Labs works alongside founders on liquidity, token strategy, exchange connectivity, validator infrastructure, fundraising, institutional introductions, business development, and broader operational matters.
All with the wider aim of strengthening market resilience and supporting digital infrastructure that is sustainable, liquid, and globally accessible.
- 1,000+
- Projects in portfolio
- 20%+
- Of CoinMarketCap’s Top 100
- 35%+
- Of CoinMarketCap’s Top 1,000
- 80+
- Leading centralized and decentralized exchanges
Our history
Eight years, from research desk to market infrastructure
202202 / 06
DWF Labs launches as a client-facing business
202303 / 06
Recognized by Binance Research as a lead investor and by Bybit as a leading liquidity provider
202404 / 06
Binance’s Longest Standing VIP Client and Blockchain Life’s Liquidity Provider of the Year
202505 / 06
Founded and incubated Falcon Finance, and recognized by Blockchain Life as Liquidity Provider of the Year
202606 / 06
DWF Labs brings together four functions in one place and receives VASP approval from the BVI Financial Services Commission
What we do
Four business lines, one firm
Liquidity, capital, partnerships, and operating support that help digital markets run more efficiently, transparently, and fairly.
Liquidity & Markets
Institutional market making and liquidity provision designed to support efficient price discovery, deep order books, and resilient trading conditions.
Investment & Incubation
Strategic capital, incubation support, token advisory, and long-term backing for emerging blockchain projects.
Ecosystem Development
Go-to-market support connecting projects with KOLs, PR partners, legal & audit firms, and exchanges. From community growth and brand amplification to CEX listings and TGE advisory.
OTC & Structured Markets
Tailored over-the-counter trading and structured digital asset solutions for institutions, funds, foundations, and protocol treasuries.
Leadership
Founded by ETH Zurich researchers and ex-IMC quant traders
Digital Wave Finance was founded in Switzerland in 2018 by ETH Zurich post-doctorate researchers and quantitative traders from IMC. In 2022, the same founding team launched DWF Labs.
Andrei Grachev
Managing PartnerAndrei is Managing Partner at DWF Labs, where he leads the firm's investment strategies and strategic partnerships, and pioneers new business directions.
Heng Lee
Partner & MDHeng is Managing Director and Partner at DWF Labs, where he oversees operations and directs the firm's growth across its core business lines.
Lingling Jiang
PartnerLingling is Partner at DWF Labs and leads the Business Development team. She also oversees multiple business lines such as investment, treasury management, and market making.
A globally distributed team, 24/7/365
We're a globally distributed team that delivers support to clients, partners, and portfolio companies every day of the year.
