Non-custodial onchain asset management since 2020

KPK manages capital for DAOs and institutions through treasury mandates, funds, and vaults.

Every strategy runs on the infrastructure we built, and every action is verifiable onchain.

kpk manages capital for DAOs and institutions through treasury mandates, funds, and vaults.
Every strategy runs on the infrastructure we built, and every action is verifiable onchain.

Speak with us

KPK was founded in 2020 as karpatkey by Marcelo Ruiz de Olano and Alejandro Romero.

They met at university, bonded over finance and investing, and reunited years later over a shared conviction about Ethereum's potential to reshape capital markets. Built under Gnosis incubation, the team set out to develop asset management processes and technology for decentralised organisations.

The operating model was established from day one: non-custodial onchain asset management. KPK holds strictly limited permissions within client-owned Safes, never taking custody of assets.

Timeline

2020

Foundation

karpatkey founded to manage the GnosisDAO treasury. Operating model established: non-custodial, permission-based asset management via Safe and Zodiac Roles Modifier.

2020

Foundation

karpatkey founded to manage the GnosisDAO treasury. Operating model established: non-custodial, permission-based asset management via Safe and Zodiac Roles Modifier.

2020

Foundation

karpatkey founded to manage the GnosisDAO treasury. Operating model established: non-custodial, permission-based asset management via Safe and Zodiac Roles Modifier.

2022

First Major Mandates

GnosisDAO formally approves karpatkey as its sole treasury manager. karpatkey wins the competitive tender for ENS DAO endowment fund management, Balancer mandate begins.

2022

First Major Mandates

GnosisDAO formally approves karpatkey as its sole treasury manager. karpatkey wins the competitive tender for ENS DAO endowment fund management, Balancer mandate begins.

2022

First Major Mandates

GnosisDAO formally approves karpatkey as its sole treasury manager. karpatkey wins the competitive tender for ENS DAO endowment fund management, Balancer mandate begins.

2023

Client Expansion

New mandates: Aave, CoW Protocol, Lido, Uniswap.

2023

Client Expansion

New mandates: Aave, CoW Protocol, Lido, Uniswap.

2023

Client Expansion

New mandates: Aave, CoW Protocol, Lido, Uniswap.

2024

Funding and Growth

New clients: Arbitrum, Nexus Mutual, Safe, dYdX. $7m funding round closed with founders of leading organisations.

2024

Funding and Growth

New clients: Arbitrum, Nexus Mutual, Safe, dYdX. $7m funding round closed with founders of leading organisations.

2024

Funding and Growth

New clients: Arbitrum, Nexus Mutual, Safe, dYdX. $7m funding round closed with founders of leading organisations.

2025

Rebrand and New Products

GnosisDAO approves KPK spin-off. karpatkey rebrands to KPK. Beyond DAO treasury management, KPK expands into curated vaults serving DeFi protocols and retail participants.

2025

Rebrand and New Products

GnosisDAO approves KPK spin-off. karpatkey rebrands to KPK. Beyond DAO treasury management, KPK expands into curated vaults serving DeFi protocols and retail participants.

2025

Rebrand and New Products

GnosisDAO approves KPK spin-off. karpatkey rebrands to KPK. Beyond DAO treasury management, KPK expands into curated vaults serving DeFi protocols and retail participants.

Leadership

Marcelo Ruiz de Olano

CEO and Co-founder

Co-founded karpatkey in 2020 to bring institutional-grade discipline to onchain capital management. Previously led OpenEthereum, the team maintaining the ex-Parity Ethereum client. Background in financial engineering and capital project management at Chevron.

Marcelo Ruiz de Olano

CEO and Co-founder

Marcelo Ruiz de Olano

CEO and Co-founder

Alejandro Romero

Co-founder

Co-founded karpatkey in 2020, bringing operational rigour from industrial-scale process engineering to DeFi asset management. Previously Head of Process Improvement at Mercado Libre and project and process engineer at Toyota.

Alejandro Romero

Co-founder

Alejandro Romero

Co-founder

Santiago Gonzalez Zerbo

Head of Engineering

Leads Engineering and Technology at KPK since October 2021, building the automation infrastructure, tooling, and agent systems behind KPK’s asset management. Holds a Doctorate in Engineering from the University of Buenos Aires, where he taught Physics and Probability & Statistics.

Santiago Gonzalez Zerbo

Head of Engineering

Santiago Gonzalez Zerbo

Head of Engineering

Trusted by protocol founders

"I've witnessed KPK's evolution into a pioneering force in DAO treasury management. Their bespoke approach, deploying dedicated teams to empower DAOs, has fostered long-term sustainability and remarkable growth."

Joe Lubin
Ethereum & Consensys Co-Founder

"I've witnessed KPK's evolution into a pioneering force in DAO treasury management. Their bespoke approach, deploying dedicated teams to empower DAOs, has fostered long-term sustainability and remarkable growth."
Joe Lubin
Ethereum & Consensys Co-Founder
“It’s been remarkable to witness the evolution of karpatkey, from its early days managing the Gnosis treasury, to now providing a number of financial solutions to many top crypto organisations. Their expanding network of DAOs brings more opportunities to Gnosis, and we are excited to see our partnership grow in the coming years.”
Stefan George
Co-Founder and CTO, Gnosis
"KPK has served as the ENS Endowment Fund Manager since 2022. We are extremely pleased with their conservative approach to asset management, emphasising safety and sustainability. Their regular reporting ensures maximum transparency for our community."
Nick Johnson
ENS Co-Founder