Led · Series A · Apr 2026

Performativ delivers a cloud-native SaaS operating system that consolidates portfolio management, analytics, client reporting, compliance, multi-custodian data aggregation and trading into a single platform supporting front, middle and back office workflows. Founded in 2020 and led by CEO Albert Geisler Fox, the company has established traction across Europe with small and mid-sized wealth and asset managers and is scaling into the enterprise segment to serve private banks and larger financial institutions. It positions itself to help clients navigate regulatory complexity and evolving client expectations through scalable technology. The recent $14M Series A will fund accelerated European expansion and a deeper push into larger institutional customers. The company’s investor base now includes strategic and financial backers such as Deutsche Börse Group, Rabo Investments, McKinsey and Company, Jacob Dahl, FinTech Collective and EIFO.

Led · Equity · Apr 2026

Kraken operates a cryptocurrency exchange and is run by parent company Payward Inc. The company has pursued strategic partnerships with traditional financial infrastructure players, most recently teaming with Deutsche Börse to enhance access for institutional clients across trading, custody, settlement, collateral management, and tokenized assets. In November, Kraken announced an $800 million fundraising that included a $200 million investment from Citadel Securities. Plans for an initial public offering were announced last year but have been deferred amid unfavorable market conditions. The Deutsche Börse investment values Kraken at roughly $13.3 billion and is expected to close pending regulatory approval. Beyond trading, the partnership with Deutsche Börse and other initiatives aim to expand Kraken's institutional product set in Europe.

Led · Equity · Apr 2026

Payward operates as the parent company of Kraken and describes itself as a unified financial infrastructure platform powering a family of crypto products. Kraken is one of the largest global cryptocurrency exchanges, and Payward has been broadening its focus beyond spot trading into a wider range of financial services. The company reported $2.2 billion in adjusted revenue for 2025. Payward has been expanding its footprint through acquisitions and partnerships and recently entered a partnership with Deutsche Borse to better connect traditional and crypto markets for institutional clients. Management confidentially filed for a U.S. IPO in November as it continues to prepare for a potential public listing. The company’s valuation has shifted from an earlier $20 billion mark to an implied roughly $13.3 billion valuation following the Deutsche Borse investment.

Led · Series C · Apr 2026

Founded in San Francisco in 2019, MerQube provides a cloud-native, API-first platform (Garage) for creating and calculating complex, rules-based indices including options-based defined outcome products, autocallable structures, and intraday/rebalancing indices. About $27 billion in assets currently follow indices calculated on MerQube’s platform, and the company is the leading index provider for defined outcome ETFs in the U.S. Its platform supports issuance and licensing for ETFs and structured products and is being used by firms such as Calamos Investments for an autocallable ETF launching in 2025. MerQube differentiates itself by handling derivatives-linked indices that legacy index platforms cannot, while offering self-service tooling for wealth and asset managers. The company holds FCA authorisation in the U.K. and plans to expand into Europe and Asia-Pacific while enhancing AI across its systems.

Led · Equity · Oct 2022

Caplight combines proprietary private company and investor data with a marketplace that connects investors and broker-dealers for secondary market liquidity. Its dataset includes 100,000 company and investor profiles, $4 trillion in funding round data, $300+ billion in proprietary secondary data, and more than $5 billion in daily live transaction flow. Customers collectively manage over $52 trillion in assets and access Caplight via its platform, API, and MCP server. The company says it will use the Series A proceeds to expand across private market data and agentic workflows for research and transactions. Caplight was founded in 2021 and is based in San Francisco. Securities transactions are offered through Caplight Markets LLC, member FINRA/SIPC.