Participated · Equity · Apr 2023

Axoni builds AxCore, a software platform that synchronizes data across financial institutions to reduce cost, risk, and errors when moving trade data and other critical information. The company’s technology guarantees continual, real-time replication of data with accuracy and completeness, solving coordination problems between large counterparties. Axoni has deployed or is developing solutions across cleared stock loans at OCC, global credit derivatives with DTCC, a corporate bond issuance platform with DirectBooks, global equity swaps with a consortium of market participants, and a global derivatives platform slated to launch in 2023. Since its 2017 founding, the firm has expanded its client base to include market infrastructure companies, asset managers, hedge funds, and global banks across the United States, Europe, and Asia. Led by CEO Greg Schvey, Axoni has raised more than $110M since inception and intends to use the new funds to expand operations and its business reach. Axoni provides financial market infrastructure and multi-party data networks that aim to increase efficiency, transparency, and reliability in global capital markets. Its client base includes buy-side and sell-side firms, infrastructure providers, and technology companies across the United States, Europe, and Asia. The company says applications of its technology have expanded rapidly in recent years. Axoni plans to use the new funding to expand its networks across additional asset classes and regions. Since its founding in 2013, the company has raised a total of $90 million. The firm highlights its role in driving digitalization and solving complex post-trade and capital markets infrastructure challenges. Axoni builds blockchain infrastructure, distributed-application development, and workflow-automation tools focused on multi-party data synchronization for capital markets. Founded in 2013 and based in New York, the company counts many of the world’s largest financial institutions and capital-markets infrastructure firms among its clients. Its core product suite includes AxCore, an infrastructure offering intended for mission-critical deployments, and tooling for distributed ledger applications. Axoni is developing AxLang, an Ethereum-compatible smart-contracting language designed to enable formal verification. The company plans to use recent financing to enhance its data synchronization technology, expand infrastructure products to support broader AxCore deployments, and grow the network of enterprises using distributed ledgers. Financially, Axoni has raised $59 million to date following the latest $36 million Series B. Axoni provides distributed ledger technology, bespoke smart contract development, and analytics tools tailored to capital markets participants. Its core deployments focus on post-trade data management, reference-data collaboration, and automation in derivatives processing. The company has worked with banks and market infrastructure firms to optimize post-trade workflows for credit default swaps and equity swaps. Axoni has collaborated with Citi on multiple live deployments and is engaged in projects to replatform the DTCC Trade Information Warehouse to streamline and reduce the cost of derivatives processing. It was selected as the distributed ledger provider for NEX Group's Harmony network for post-trade data management. Founded in 2013 and led by CEO Greg Schvey, Axoni has recently completed Series A financing and attracted strategic investors from both financial institutions and venture capital. Axoni is a New York-based capital markets technology firm that provides distributed ledger technology to the financial services industry. Its product offerings include distributed ledger technology deployments, bespoke smart contract development, and analytics tools. Those solutions have been implemented in partnership with more than a dozen global banks and financial infrastructure providers. Founded in 2013 and led by CEO Greg Schvey, Axoni focuses on distributed ledger infrastructure for capital markets. In December 2016 the company completed an $18m Series A financing and has raised above $20m in total funding to date. Investors include both financial institutions and venture firms, reflecting cross-sector support for its technology.

Participated · Series B · Oct 2020

PrimaryBid operates a platform that lets ordinary (retail) investors access allocations in IPOs and follow-on share issues alongside banks and professional investors. The company interoperates with roughly 60 distribution channels including brokerages and investment apps to enable those investments. It says that in the past 18 months it has helped facilitate retail participation in about 150 IPOs and follow-on offers, primarily in the U.K., with some activity starting in France and the Netherlands. PrimaryBid plans to expand its product set to support SPAC-based listings and retail bonds, and to grow geographically—including opening a U.S. office pending regulatory approvals, likely in late 2022 or 2023. The business frames its mission as widening participation in public markets by making issuances accessible via APIs and partner apps. Financially, the company has been growing since its $50M Series B in October 2020 and says demand has accelerated its adoption. PrimaryBid is a U.K. fintech that gives retail (non‑professional) investors the ability to invest in new shares issued by public companies. Its platform has enabled thousands of retail investors to participate alongside institutions and was used in 41 capital raising efforts for U.K. listed companies and trusts since April 2020. PrimaryBid focuses on allowing retail access to accelerated follow‑on raises and other new issuances rather than trading existing shares. The company plans to use its new funding to hire talent, invest in its technology, build partnerships and pursue international expansion. Its growth accelerated during the COVID‑19 pandemic as companies recapitalised and sought broader pools of liquidity. PrimaryBid does not disclose its valuation following the round. PrimaryBid is an FCA-regulated platform that connects publicly listed companies with everyday investors, enabling retail participation in discounted share issuances and block sales. Its centralised infrastructure lets private investors participate at the same time and price as institutional buyers, with the service free for investors from £100 upwards. PrimaryBid says retail inclusion can improve pricing and liquidity outcomes for issuers and claims it has no direct competitors because retail investors previously lacked access to these time-sensitive deals. The company recently signed a long-term commercial agreement with Euronext that gives it access to nine new geographies, with the first new site launching in France later this year. PrimaryBid previously raised $3M and has now closed an $8.6M funding round led by UK VCs Pentech and Outward VC. Craig Anderson of Pentech will join the board and Outward VC will take a board observer seat as part of the round. PrimaryBid is a London-based online platform that enables retail investors to access discounted equity offerings of publicly listed companies. Led by co-founder and CEO Anand Sambasivan, the platform gives retail investors exclusive opportunities to buy shares in quoted companies across the Eurozone. To date, more than £56m has been sourced via the company’s platform. The company raised £2m in funding in a round led by funds managed by Lombard Odier alongside family offices and angel investors. It intends to use the funds to accelerate its pan European expansion plan.

Led · Seed · Feb 2019

Nivaura provides a workflow management and process automation platform focused on primary issuance processes in capital markets, using blockchain to enable legally enforceable financial instruments. Its modular technology services automate and compliantly manage the full lifecycle for issuance and administration of debt, equity and structured products. The company targets deployment of digital investment-banking platforms for banks, exchanges and other financial institutions. Founded in London in 2016 and led by CEO Dr. Avtar Sehra, Nivaura plans to use the new capital to expand leadership, business development and technical teams to accelerate growth. It intends to enter new jurisdictions and to cover new asset classes. The company also added senior hires in conjunction with the round, strengthening legal, strategic and commercial expertise.