CMS Holdings is a proprietary, partner-owned venture capital fund with no outside investors, allowing them to take faster, higher-risk positions in areas like yield farming and NFTs that institutional funds with compliance constraints cannot touch. The founding team previously ran one of the largest crypto trading operations (Circle Trade) during the 2017 ICO boom, and they maintain an unusual hybrid model that combines a large actively-traded liquid portfolio with venture investments, giving them trader reflexes with a venture time horizon.