Led · Series D · Sep 2025

Founded in 2017, Zero Hash offers an on-chain infrastructure platform that functions like the “AWS of crypto,” supplying APIs and developer kits that power trading, payments, remittances, payroll, tokenization and other digital-asset use cases. The company’s regulatory-first model enables clients such as Interactive Brokers, Stripe, Shift4, BlackRock’s BUIDL Fund, Franklin Templeton and DraftKings to embed crypto, stablecoin and tokenized asset services while meeting compliance requirements. Zero Hash supports more than five million end users across 190 countries, illustrating broad adoption of its platform. Management says demand is accelerating as clearer U.S. and EU regulations spur mainstream financial institutions to pursue on-chain strategies. The firm plans to use its newest capital to accelerate product development and grow headcount, further entrenching itself as core infrastructure for banks, brokerages, payment companies and loyalty platforms. Including the latest raise, Zero Hash has secured roughly $275 million in total funding and is now valued at about $1 billion.

Led · Series B · Oct 2024

Reflexivity (formerly Toggle AI) develops AI-powered analytics and tools for the full lifecycle of investment asset and portfolio management. The company combines AI capabilities with institutional-grade analytics to support investors' decision-making and portfolio operations. Reflexivity operates across London, New York City and Tokyo. Jan Szilagyi is CEO and co‑founder. The company raised $30M in a Series B to accelerate its product roadmap and expand delivery of its platform to clients throughout the financial industry. Investors in the round include Greycroft, Interactive Brokers, Stanley Druckenmiller, Greg Coffey, General Catalyst and SoftBank LatAm.

Led · Equity · Jun 2020

The Small Exchange is a Chicago-based futures exchange and registered Designated Contract Market (DCM) with the CFTC that offers smaller, simpler futures products aimed at retail customers. It uses a proprietary trade matching engine and has launched three products: an Equity Index, a Dollar Index, and a Metals Index. The exchange focuses on reducing fee and connectivity barriers to give individual traders and small trading firms better access to futures markets. As of June 1, 2020, it counted 18 partners, including major trading firms and market-makers. The company has previously raised $20 million from industry backers including co-founders tastytrade, Peak6, then Citadel Securities, and Jump Capital. The new investment will be used to invest in operations and expand offerings, including additional futures products and options. The Small Exchange is building a customer-centric futures exchange that offers proprietary, cash-settled indices sized for a range of investors and a unique individual subscription that reduces exchange and market data fees. The platform is powered by a proprietary matching engine and is designed to be capital efficient, simple to use, and easy to understand for retail investors and other market participants. The company positions itself to bridge the futures product gap for investors of all sizes and to standardize products for ease of use. The Small Exchange is backed by co-founders tastytrade and PEAK6 Investments and has announced industry partnerships with CQG and Eventus. It is seeking registration as a Designated Contract Market (DCM) with the CFTC and plans to launch later this year. Financially, the company announced a $10 million strategic financing from Citadel Securities and Jump Capital to support launch and market development.