The Venture Codex

Led · Equity · Sep 2018

SID Limited has developed a crowd-sourced internet-sharing system that enables a smartphone or tablet to pass its Wi-Fi or mobile data connection to nearby devices through a fully decentralized, blockchain-based architecture. The company’s mobile application continues working even if central servers are unreachable, giving each user full control over when and how their bandwidth is shared. By tapping into the fact that there are far more smartphones than public Wi-Fi hotspots globally, SID aims to become a ubiquitous alternative to traditional Wi-Fi and mobile hotspots. Management positions the technology as a way to expand affordable connectivity and support the United Nations’ first Sustainable Development Goal by helping segments of the world’s 500 million poor gain internet access. The founding team boasts extensive telecom and blue-chip technology experience. With new capital in hand, SID intends to enhance its service, improve security, and deepen relationships with large enterprises whose mobile apps rely on always-on connectivity. To date, the company’s disclosed external financing totals $3 million.

Led · Equity · Aug 2018

Baanx is a London, UK–based B2B2C service provider focused on digital-asset friendly financial services. Its core products include physical and virtual debit cards, digital wallets, IBANs/DDA accounts, borrowing/lending, remittance/FX, payment gateways and related payments infrastructure. The company also offers white-label, fully managed applications to user communities to support mass adoption of blockchain technology, digital assets and cryptocurrencies. Led by CEO Garth Howat, Baanx positions itself as a bridge between Web3 technology and the financial services sector. The company raised $20m in a Series A and has raised a total of more than $30m to date. It intends to use the new funds to expand operations, broaden its business reach and support development efforts. Baanx positions itself as a future-facing cryptobank network delivering fiat and crypto mobile banking services and a mobile wallet. Its product roadmap includes insured custody of crypto assets, multi-exchange integration for best-price crypto purchases, virtual cards for crypto-and-fiat payments, white‑labeling and bank‑license sharing to deploy cryptobanks, and crypto‑secured lending and short‑term stablecoin loans. The company says subsidiaries have completed millions in consumer loans in the EU and that it has agreements for up to 1.3 million customers to start using its wallet and services. Baanx is conducting a token pre-sale and has announced a $2 million investment tied to that sale. The team is described as having extensive banking and fintech experience from firms such as JP Morgan, Mastercard, Commerzbank, and UBS. The group states its goal is to simplify and secure crypto‑market payments and enable mass adoption through a combined blockchain crypto and fiat system.

Led · Equity · Jul 2018

Octaneum provides customized blockchain software development and consulting services for organizations in the oil and gas sector. The company launched a security token offering and secured a $4 million investment from LDJ Cayman Fund. Octaneum says it will combine blockchain technology with machine learning to boost efficiency and reduce costs in oil and gas operations. It is targeting the global petroleum market, which the article cites as a roughly $5 trillion opportunity. David Drake, Founder and Chairman of LDJ Capital and Principal of LDJ Cayman Fund, sits on Octaneum’s board of advisors. The company positions itself to fit within crypto-asset investment allocations of family offices and institutional investors.