Former Chorus One Chief Investment Officer Xavier Meegan has announced the launch of Frachtis, a crypto-native pre-seed fund with a size of $20 million. The fund currently consists of five members, with Xavier Meegan serving as General Partner, while the other four form the investment and advisory committee. Reportedly, Frachtis has so far invested in eight projects at the pre-seed and seed stages, including Turtle Club and Hyve.