Participated · Series D · May 2026

Elliptic provides digital-asset data and intelligence, continuously tracking and labeling assets and entities across more than 65 blockchains. The company offers analytics and compliance solutions used by banks, fintechs, governments and crypto firms, and reports screening over 1 billion transactions weekly for more than 700 customers. Elliptic says exchanges using its services account for two-thirds of global crypto trading, positioning it as a compliance backbone as assets move into traditional finance. Founded in 2013 and headquartered in London, Elliptic maintains offices in New York, Washington D.C., Miami, Dubai, Singapore, and Tokyo. With the $120 million Series D at a $670 million pre-money valuation, Elliptic plans to accelerate growth to meet increasing institutional adoption and the rise of tokenization and stablecoins.

Participated · Series C · Jan 2026

Nasdaq Private Market (NPM) runs a full-service platform that supports structured liquidity programs, trading, settlement, and data services for private-market participants. To date, the company has executed almost $70 billion in transaction volume for more than 200,000 eligible employee shareholders and investors, spanning over 900 company-sponsored liquidity programs. Its technology facilitates secondary transactions and other liquidity events, giving private companies a means to manage equity and provide shareholder liquidity prior to an IPO or exit. Management, led by CEO Tom Callahan and CFO René Paula, plans to scale operations, invest in product innovation around secondary transactions, enhance global distribution, and integrate AI tools. The firm reports that its valuation has quadrupled since its Series B round in 2024, underscoring rapid growth and increasing market demand. With fresh capital, NPM intends to accelerate platform enhancements and expand its international reach, further embedding itself in the private-market ecosystem.

Participated · Series A · Jan 2026

Founded in 2017, UK-based Siege FX provides MidPool, an independent mid-rate matching service for spot foreign exchange transactions. The platform allows banks, institutional investors and corporate treasurers to find natural offsetting liquidity, thereby lowering market impact and execution expenses. According to the company, adoption has grown rapidly among leading global banks and buy-side firms. Siege FX plans to use its growing network effect to broaden MidPool’s reach into additional instruments and to roll out complementary services. Management positions the product as a way to tackle structural challenges in the FX market and build a more resilient liquidity ecosystem. Recent backing from strategic investors underscores confidence in the firm’s technology and growth trajectory.

Participated · Equity · Dec 2025

Digital Asset builds and operates the Canton Network, a public, permissionless Layer 1 blockchain that provides protocol-level privacy and confidentiality guarantees and runs applications written in its open-source smart contract language, Daml. Canton is designed to enable tokenized asset workflows across multiple parties while keeping transaction data confidential, and it has attracted marquee institutional participants including Visa, Goldman Sachs, and DTCC. The network has processed or issued more than $6 trillion in tokenized assets according to prior reporting, and Visa became a Canton Super Validator and added Canton to a stablecoin settlement pilot. The Canton ecosystem has also seen activity such as a $540 million raise by Canton Strategic Holdings (formerly Tharimmune) to build a Canton Coin treasury and a project called Zenith completing atomic swaps between Canton and an EVM-compatible environment. On the financing front, Digital Asset raised $135 million in June 2025 and $50 million in December 2025, and is now pursuing a roughly $300 million round led by a16z crypto. The company is backed by trading firms and banks including DRW Holdings and Citadel Securities.

Participated · Series C · Sep 2025

Fnality International is building a global settlement network that uses distributed ledger technology (DLT) to connect established wholesale markets with emerging institutional tokenized assets. Its flagship offering, the Sterling Fnality Payment System (launched in the U.K. in December 2023), provides 24/7, central-bank-backed cash rails for real-time delivery-versus-payment of tokenized securities, payment-versus-payment foreign-exchange settlement, and on-demand repo transactions. Fnality’s platform leverages ‘earmarking’ to secure settlement while optimizing liquidity management across participants. The company works closely with central banks and major financial market infrastructures to ensure regulatory compliance and interoperability with innovations such as stablecoins and tokenized deposits. Near-term plans include extending the network to additional major currencies and enhancing liquidity tools to support a broader digital-asset ecosystem. By fusing decentralized finance operational efficiencies with traditional finance capital efficiency, Fnality aims to become a foundational pillar of the next-generation financial market infrastructure.