Contango Digital Asset has a rich portfolio of Web3 protocols, including Andromeda Protocol, Coinweb, Kado, NuNet, Nakamoto Games, Astra Protocol, and IQ Protocol.
In addition to a successful seed funding round, Contango Digital Assets added Eric Baum – Co-Founder and Managing Director of Solidea Capital – to its board members.
Contango Digital Assets, a blockchain venture capital firm based in the British Virgin Islands and regulated by the FSC, has announced the closure of its seed funding round with $1.2 million secured. According to the announcement, the raised capital will help the company build developer tools for Web3 infrastructure and increase awareness of Contango Digital Assets as an investment firm. Moreover, Contango Digital Assets has made a tremendous entry into the blockchain industry by investing in innovative startups that are shaping the future of Web3.
Contango Digital Assets Aligned for Future Crypto Bull Markets
An array of investors led the just concluded seed funding round, including family offices, venture capital, and high-net-worth angel investors. As a result, Contango Digital Assets is well-positioned to invest in disruptive Web3 projects. Moreover, Contango Digital Assets has deployed over $7 million to over 50 Web3 projects in recent months and is looking to double that figure by the end of 2023, according to its co-founders.
Furthermore, some projects Contango Digital Assets has invested in, including THORWallet, have integrated with different chains to allow users to get the best out of the nascent crypto and blockchain industry.
“We are excited about what this capital injection 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,” said Contango co-founder Josh Field in a statement.
The blockchain and cryptocurrency industry is in the middle of a huge transformation as traditional financial institutions get disrupted to adopt digital banking. With the fourth Bitcoin halving around the corner, which has been identified as a significant catalyst for a fresh crypto bull market, Contango Digital Assets is well-positioned to become a multimillion-dollar venture capital firm. Notably, Contango Digital Assets has an array of projects, including thriving decentralized financial protocols and critical infrastructure for the Web3 ecosystem. Some popular Contango-sponsored Web3 projects include Andromeda Protocol, Coinweb, Kado, NuNet, Nakamoto Games, Astra Protocol, and IQ Protocol, among others.
“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,” said Contango Digital Assets co-founder Mike Grantis.
In addition to the seed funding round, Contango Digital Assets has announced that Eric Baum, a venture capital veteran with over 20 years of experience, has joined its board members. Notably, Baum is the Co-Founder and the Managing Director of Solidea Capital, a private equity and venture advisory firm founded in 2006.
“He brings strong subject matter expertise in post-merger integration, corporate strategy, market positioning and start-up advisory services to the Contango team,” the company described Baum.
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Bigger Picture
Established in 2020 amid the third Bitcoin halving and the Covid-19 global pandemic, Contango Digital Assets has made tremendous progress in the past two years onboarding over 450 angel investors, researchers, founders, and industry experts into their Private Alpha Community. Currently, Contango Digital Assets is developing a SaaS platform that will add transparency to the complex private capital markets and level the playing field for angel investors in the Web3 private investment landscape.
As the regulatory framework in the Web3 industry changes worldwide, Contango Digital Assets has advised potential developers to familiarize themselves with the necessary policies. Furthermore, the mainstream global adoption of the Web3 industry is heavily pegged to the ability to navigate the worldwide regulatory framework.
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