According to CoinMeta, New York-based startup Birch Hill announced that it has raised $4 million in a seed round of financing, with plans to tokenize apartment, farm, and energy loans in the United States. This financing was led by Multicoin Capital, with participation from Parafi Capital, Castle Island Ventures, and Nascent, bringing the total funding to $6.5 million. The CEO, Bhavin Vaid, formerly worked as an investment bank analyst at Goldman Sachs, while co-founder Connor Flanagan has been employed at Blackstone for over four years. The Vaults department of Birch Hill serves as an official curator on Morpho, responsible for assessing credit and setting risk parameters. The company plans to securitize multi-family residential, agricultural, and energy loans within the U.S. regulatory framework. Vaid stated: "Lender originators need new sources of capital, while lenders on the blockchain need credible credit."