Participated · Equity · Dec 2021

The article identifies New York Digital Investment Group LLC as an investment group that completed a major financing event. The article does not describe the company’s core product or specific business lines. On December 14, 2021 the company raised $1 billion in an equity round led by WestCap Management, LLC. The transaction included participation from Deer Management Company, LLC; FinTech Collective, Inc.; Affirm Holdings, Inc.; Fidelity National Information Services, Inc.; Fiserv, Inc.; Massachusetts Mutual Life Insurance Company; Morgan Stanley & Co. LLC, Investment Arm; and New York Life Insurance Company. The round was raised at a post-money valuation of $7 billion. The article does not provide revenue, user metrics, or detailed future plans. Nydig is a New York City–based provider of technology and investment solutions for Bitcoin. It provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and high-net-worth individuals. The company operates an institutional custody platform that it says facilitates and holds more than $1 billion of direct and indirect bitcoin exposure owned by insurers. Nydig raised $200m in growth funding and intends to use the proceeds to expand its business reach. Leadership includes co-founder and CEO Robert Gutmann and founder and Executive Chairman Ross Stevens. NYDIG provides institutional investment, brokerage, treasury, and technology solutions for Bitcoin, including insured custody, execution, asset management, financing, and AML/KYC services. Its core product is a secure, audited, and insured custody platform that holds client Bitcoin positions and underpins bespoke white‑label implementations for large financial institutions. The firm is accelerating its white‑label business segment to deliver custody, execution, financing, and compliance capabilities to banks and institutional clients. NYDIG reports over $2.3 billion of digital asset balances under custody and recently facilitated a $100 million Bitcoin purchase for a major insurer. That insurer, Massachusetts Mutual Life Insurance Company (MassMutual), also made a $5 million minority equity investment in NYDIG. Founded in 2017 as the digital-asset subsidiary of Stone Ridge Holdings Group, NYDIG's subsidiaries hold a BitLicense and a limited-purpose trust charter. NYDIG provides investment, brokerage, treasury, and technology solutions for Bitcoin and other digital assets to institutional allocators, corporations, banks, investment advisers, and high-net-worth individuals. The firm offers insured custody, execution, asset management, financing, AML/KYC, and partners with banks and philanthropies to deliver these capabilities to their customers and donors. NYDIG reports that its custody, asset management, and financing balances exceed $1 billion in aggregate and that its client base quadrupled this year. Founded in 2017 as the digital-asset subsidiary of Stone Ridge, NYDIG operates under regulatory frameworks with subsidiaries holding a BitLicense and a limited-purpose trust charter from the New York State Department of Financial Services. The company executed and custodied a parent-company purchase of more than 10,000 BTC (over $100M) as part of Stone Ridge Holdings Group’s treasury reserve strategy. Management says demand for corporate treasury and institutional Bitcoin solutions is accelerating and the firm intends to expand those offerings.

Participated · Series A · Nov 2021

Imprint is a New York-based financial technology company that partners with leading brands to design, issue, and operate co-branded credit products and loyalty experiences through its proprietary issuing and processing stack, ImprintCore. The platform gives brands end-to-end control of the customer journey—from application to spend, earn, redeem, and repeat—while supplying rich data and personalization capabilities. Imprint’s model has attracted partners such as Booking.com, Rakuten, Crate & Barrel, and Fetch, contributing to 200 % year-over-year growth in its cardholder base. Brands that switch to Imprint report 2× higher wallet share, a 20 % increase in spend, and an 8× lift in customer lifetime value versus legacy programs. The company also secured a AAA rating from Fitch for its inaugural $300 million securitization, underscoring strong capital-markets validation. With fresh capital, Imprint intends to strengthen its core platform, introduce debit, secured card, and flexible financing products, and build AI-driven automation alongside a brand-funded Imprint Rewards Network. Over the next three years it aims to evolve traditional co-brand cards into a comprehensive loyalty platform that delivers “premium access” for customers of top consumer brands.

Participated · Series B · Apr 2019

Returnly is a post-purchase payments company that helps brands and retailers deliver instant, seamless returns experiences. Its core product lets shoppers buy again using return credit before shipping original items back, settles the new order in real-time, and assumes the product-returns risk for merchants. The company offers a turn-key solution for large-scale retailers as well as hosted, fully brandable customer touchpoints like order and returns tracking, online returns and exchanges. Returnly said it will use the new $19 million Series B to grow merchant services and expand its product offering to help thousands of retailers compete with Amazon. Planned product work includes omnichannel support (Buy Online Return In Store) and deeper integrations with reverse logistics, e-commerce, loyalty, and CRM platforms. Returnly is headquartered in San Francisco and also has offices in Chicago and Madrid. Returnly offers a turn-key post-purchase payments platform that lets shoppers buy again using return credit before shipping original items back, settles those orders in real time, and assumes product return risk for merchants. The company also provides returns management tools and hosted, brandable customer touchpoints such as order and returns tracking, online returns and exchanges. Returnly has developed relationships with hundreds of merchant partners, including Fanatics, UNTUCKit, Outdoor Voices and The Greats, and has issued more than $100 million in returns credit to customers. The business is headquartered in San Francisco and maintains offices in Chicago and Madrid. The company plans to use the new financing and credit facility to onboard larger merchants and integrate its platform with reverse logistics, e-commerce, loyalty and CRM platforms. Its core focus is removing returns friction to drive customer loyalty and incremental sales for retailers. Returnly provides an online wallet that temporarily fronts customers the refund on returned goods so they can immediately repurchase from the same brand. The company acts as a middleman between shoppers and merchants, returning funds to customers only after retailers receive the original item. It uses data and A/B testing — run by a team that includes ex‑Glassdoor data scientists — to help brands measure the impact on repurchases. Returnly collects nearly all of its revenue from commissions on post‑return sales, with the remainder coming from an initiation fee charged when retailers adopt the service. Merchants such as Fanatics and Cotopaxi are cited as customers benefiting from the low‑risk value proposition. Founder and CEO Eduardo Vilar, who has a background in mathematics and actuarial science, leveraged the company’s own equity to power initial transactions and aims to demonstrate the predictability and profitability of that financial instrument to institutional investors.