Participated · Series B · Nov 2018

Open Mineral operates an online platform for trading physical metal commodities, using pricing algorithms and a curated marketplace model to connect buyers and sellers. The company reports its platform has registered more than 900 metals and mining companies worldwide and deploys automated blending/smelter material optimization to improve trade efficiency and margins. OM is working with third-party providers to incorporate "green" ESG metrics across sell-side and buy-side activity and says these tools can help lower carbon footprints in the supply chain. The startup positions itself as a digitization force in a largely paper-based $200 billion commodity trading market. Management also emphasizes data and analytics to enable faster, more data-driven trading decisions and greater market transparency. The company plans to use new capital to solidify its physical supply chain merchant activities and further develop its platform capabilities. Open Mineral operates a cloud-based exchange platform that connects buyers and sellers to trade physical commodities, focused on metal concentrates. The platform provides transparent trading and offers services integral to smooth trade execution such as freight, surveying, financing and insurance. The company was founded in 2017 by Boris Eykher (CEO) and Ilya Chernilovskiy (COO) and is based in Zug, Switzerland. In November 2018 Open Mineral raised €4.8m in a Series B funding round. The company intends to use the capital to expand the reach of its platform. Open Mineral operates the Open Mineral Exchange, a digital platform that uses blockchain to bring together sellers and buyers of physical commodities and reduce reliance on intermediaries. The platform digitizes and streamlines the traditionally paper-heavy trading process for base and precious metal raw materials. It currently focuses on zinc, lead, copper, gold and silver concentrate markets and could expand into other concentrates in the future. The company charges a success-based fee that depends on the value/chemical composition of the material and the volume transacted. Open Mineral closed a $2.25 million investment round to support its development and became the first startup to join the Thomson Reuters Incubator in Zug. The company was founded by Boris Eykher and Ilya Chernilovskiy, both formerly at Glencore, and is headquartered in Baar, Switzerland with operations in Beijing, Lima and Moscow.

Led · Equity · Jun 2018

Acoustic Zoom develops patented and patent-pending high-frequency 3D and 4D seismic imaging technologies designed to map complex geological formations deep within the earth’s micro-structure. Its seismic solutions aim to help exploration teams drill smarter, guide mine planning, and deliver more actionable and accurate information for mineral exploration. The company won #DisruptMining 2018 after having been a semi-finalist in 2017, an outcome the firm says accelerated its business. Acoustic Zoom closed a US$1 million investment from Goldcorp, and a US$150,000 pilot program will launch that summer at Goldcorp’s Red Lake Gold Mines in Ontario. As part of the deal, Sergio Espinosa, Director of Geophysics at Goldcorp, will join Acoustic Zoom’s board of directors. The company positions itself to unlock the potential of Canada’s mineral exploration sector through its imaging services and technology.

Participated · Equity · Apr 2018

Tradewind built a platform that integrates exchange technology with its VaultChain blockchain to digitize vaulted precious metals and facilitate trading, settlement and ownership. The company officially launched its platform in March 2018 and was formed in 2016. Tradewind’s VaultChain Gold offering removes structural and frictional limitations from the physical gold market and the platform is positioned to support additional applications such as provenance and supply chain management. The firm has raised capital since inception and reported total fundraising of $22.8 million. Tradewind is managed by a team with experience in electronic trading, market structure, gold investment management, market operations, cryptography and blockchain technology. The company plans to use new capital to expand the Tradewind platform and distribution network into Europe and Asia while extending platform functionality.