Xavier Meegan, former CIO of Chorus One, has launched Frachtis, a $20 million pre-seed fund aimed at supporting early-stage blockchain innovators. Backed by investors such as Theta Capital and RockawayX, the fund targets technical crypto-native founders developing decentralized AI, infrastructure, middleware, and consumer applications. Operating as a solo general partner fund, Frachtis includes an advisory and investment committee with industry figures like Brian Crain and Mel Tsiaprazis. The fund has already invested in eight projects, including Turtle Club and Hyve, highlighting a focus on decentralized infrastructure and consumer-facing crypto solutions.