Participated · Equity · Jul 2026

Founded in 2018, ProphetX is a regulated U.S. exchange built as a sports-native prediction market for event-driven contracts. The company operates a peer-to-peer marketplace where users trade event contracts and uses an RFQ Parlay Mechanism to enable multi-event combinations and institutional-style pricing. ProphetX recently received CFTC approval and completed a nationwide launch, after previously operating as a sweepstakes platform. The firm reported a 50% increase in active users and assets on platform during its first 30 days as a regulated market and is targeting a tripling of trading volume in 2026. ProphetX is scaling a B2B platform and partnerships and raised $35 million to accelerate product development, boost market liquidity, and expand institutional market coverage.

Participated · Equity · Oct 2024

BMLL Technologies provides harmonised historical Level 3, 2 and 1 data and analytics across global equities, ETFs and futures, offering granular T+1 order book data and advanced pre- and post-trade analytics. Its customers include banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators. The platform delivers immediate and flexible access to detailed market data for execution analysis, surveillance and market-structure research. Led by CEO Paul Humphrey and based in London, the company emphasizes use of the most granular order-book data to support algo development and validation. BMLL intends to use the new funding to expand operations and accelerate development efforts. BMLL Technologies supplies cloud-native, harmonized Level 3 historical order-book (T+1) data and analytics to banks, brokers, asset managers, hedge funds, and exchanges. Its platform captures every message with nanosecond-precision timestamps and applies normalization and harmonization processes to deliver high-quality, ready-to-query datasets. BMLL offers a cloud Data Science environment and web portal that removes the need for clients to buy, curate, and harmonize raw market data. The company’s data supports use cases including quant research, back-testing, transaction cost analysis, compliance, surveillance, and order-book simulation. Through a collaboration with FactSet, BMLL’s Level 3 capabilities are being surfaced as a Market-by-Price Level 2 tick-history product on a common delivery platform alongside FactSet’s Level 1 tick archive in Snowflake. BMLL was founded in 2014 in the machine-learning laboratories of the University of Cambridge.

Participated · Series D · May 2023

OpenFin builds a web-based OS and application interface aimed at financial services to unify desktop apps and workflows. Its platform offers a single search interface—what the CEO described as “Spotlight Search on steroids”—to search across apps, reduce the industry’s so-called “toggle tax,” and drive richer workflows. The company says its software is used by more than 3,800 banks and wealth and asset management firms across 60+ countries. OpenFin recently closed a $35M Series D, bringing total capital raised to $82M. It competes with enterprise browser-like offerings such as Island and counts major banks and trading firms among its customers and investors. The company has expanded its footprint with a deal with the London Stock Exchange and into the U.S. government sector via a strategic partnership and investment from In-Q-Tel. OpenFin offers a desktop operating platform that sits above native operating systems (Windows, macOS) to let users view, use, and integrate multiple apps on one screen. The platform automatically synchronizes updates across apps and allows customers to build and integrate custom apps, reducing time lost to app switching and duplicate data entry. OpenFin targets knowledge-worker productivity and aims to displace traditional web browsers such as Chrome and Edge, competing with emerging browser startups like Island. The company emphasizes security and user experience as differentiators. Historically focused on finance customers including Goldman Sachs and JPMorgan, OpenFin is expanding into the government sector through a partnership with In-Q-Tel. Its recent funding includes a $10 million investment from ING Ventures and an additional undisclosed investment from In-Q-Tel. OpenFin is a NYC-based provider of a web-based operating system for financial firms. Led by CEO Mazy Dar, its OS is used at more than 1,500 banks and buy-side firms across nearly 200,000 desktops in 60+ countries. The company also maintains offices in London. It raised an additional $5m as part of its Series C, bringing that round to $22m and total funding to date to $45m. Investors in the Series C include HSBC, Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, J.P. Morgan, NYCA Partners, Pivot Investment Partners and Wells Fargo. OpenFin said it will use the financing to expand its product offering into Asian markets and to fund new product initiatives. OpenFin provides an operating system for the financial services industry that enables easier app deployment, faster security assurances, and interoperability across desktop applications. Its platform prevents apps from accessing local file systems to simplify security reviews for banks and institutions. OpenFin launched OpenFin Cloud Services to let firms create private local app stores without coding. The company reports more than 1,500 major financial firms as customers, nearly 40 leading vendors, 15 of the world’s 20 largest banks, and over 1,000 apps built on the OS. Deployments exceed 200,000 desktops, and since its February 2017 Series B its deployments and headcount have more than doubled while its European presence has tripled. OpenFin plans to use new capital for hiring and to expand its footprint across more desktops globally, aiming to become the core operating infrastructure for financial application developers. OpenFin provides a common operating layer for financial desktop applications using a modern, open technology stack and Google’s Chromium engine to deliver a secure, sandboxed environment across Windows, Mac and Linux. The platform enables rapid development and ‘instant’ deployment of desktop apps, shrinking deployment and update cycles from 6–18 months to immediate rollout. OpenFin’s technology is licensed across over 100,000 desktops and is used by applications from 35 of the world’s largest banks and trading platforms. Customers use the platform to redesign and unify front‑end experiences for traders and other end users, and to deploy applications both in‑house and to buy‑ and sell‑side clients. Strategic partners are integrating with the platform—Euclid Opportunities said it is bringing NEX Optimisation services onto OpenFin—indicating enterprise fintech adoption. Financially, OpenFin announced a $15 million Series B and has raised $22 million in total venture funding to date.

Participated · Series B · Apr 2019

ErisX launched a spot market supporting dollar trading pairs for bitcoin, bitcoin cash, litecoin and ethereum, plus bitcoin trading pairs with the other three cryptocurrencies. Its platform includes both an exchange and a clearinghouse, allowing custody of cash and digital assets. The company says the spot launch is an initial step toward broader plans to offer futures, which are pending regulatory approval of its derivatives clearing organization (DCO) application with the CFTC. ErisX is continuing to build out its exchange and clearinghouse technology stacks and to onboard clients. Management expects customers for both spot and futures markets in the coming months as the platform develops. The company has been fundraising to support that development and has also added NYDIG COO/CFO Rob Flatley to its board alongside ConsenSys' Joseph Lubin. ErisX operates a single platform for individuals and institutions to access digital asset spot and futures markets, combining professional trading tools with regulatory oversight. The company plans to enable trading of cryptocurrencies such as Bitcoin, Litecoin, and ether on both spot and futures markets starting next year, pending regulatory approval. ErisX intends to operate as an intermediary-friendly, CFTC-registered futures exchange with a clearing organization registration pending, and to run a regulated spot market for digital assets. The firm emphasizes security and regulatory compliance as core differentiators for institutional and individual participants. Leadership includes CEO Thomas Chippas, chief commercial officer Kelly Brown, and Head of Clearing Liz James. Financially, the company recently completed a Series B round to fund platform development and team expansion. ErisX is launching a derivatives exchange (DCM) and clearing organization (DCO) that will offer fully regulated digital asset futures and spot contracts on a single platform. The platform is designed to provide a regulated, transparent and stable venue with centralized exchange infrastructure for institutional and individual traders. ErisX plans to integrate digital asset products and technology into compliant capital markets workflows and to accelerate investments in the platform and team following a recent funding round. Leadership changes accompanying the launch include Thomas Chippas as CEO and Neal Brady as Executive Chairman. The company is backed by a broad syndicate spanning traditional capital markets and digital-asset investors, which the team says will contribute expertise and market input. Aspects of the offering are pending regulatory approval; no revenue or user metrics are disclosed in the announcement.