British Virgin Island-based leading blockchain VC firm Contango Digital Assets raised USD 1.5 million in a seed round. The round took place on March 23, 2023. Family Office, Venture Capital as well as HNW Angel investors and others joined in the funding.
Purpose of financing for Contango Digital Assets
The financing is for the parent company of Contango Digital Assets. With the latest funding from the seed round, the company aims to build Web3 infrastructure.
In addition, it aims to raise awareness for Contango Digital Assets as an investment firm. So far, Contango has deployed more than USD 7 million to support over 50 Web3 teams. The company aims to at least double this figure in 2023.
Meanwhile, the company announced the appointment of Eric Baum to its board of directors. Eric is the Co-Founder / Managing Director of Solidea Capital, a private equity and venture advisory firm founded in 2006.
Moreover, the firm is in the process of developing a SaaS platform seeking to add transparency to the complex private capital markets and level the playing field for angel investors in the Web3 private investment landscape.
What the company’s official has to say
Contango Digital Assets co-founder Mike Grantis said, “This round was an accelerant for Contango. It allows us to place our bets on the growth of the industry, build our presence as a firm and position ourselves as one of the top rising VCs in the Web3 space. We are very excited to work with our newest strategic investors and feel poised to emerge as one of the leading up-and-coming Web3 VCs during this next market cycle.”
Contango co-founder Josh Field said, “We are excited about what this injection of capital can do to further our mission here at Contango. We see a future where we can offer avenues for all levels of sophisticated investors to get access to competitive Web3 private markets, usually only accessible to large funds. We plan on doing this by innovating the current infrastructure available to investors and building systems that bring more transparency to this process. This seed round will be the catalyst for Contango to execute that vision.”
About the company
Mike Grantis and Josh Field launched the company in 2021. Contango’s portfolio features more than 50 leading Web3, DeFi and gaming companies such as Andromeda Protocol, Coinweb, Kado, NuNet, Nakamoto Games, Astra Protocol, and IQ Protocol, among others.
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