Participated · Series B · Jul 2018

Forge Global operates a private securities marketplace that connects investors and shareholders to provide liquidity solutions and secondary trading for private companies. Since inception the firm has completed more than $9B in transactions across nearly 400 private companies and reported three consecutive record-breaking quarters, including Q1 2021 when it completed 1,400 transactions totaling more than $730M of volume. After merging with SharesPost in 2020, Forge received FINRA approval to operate as a single broker dealer with SharesPost, strengthening its transactional capabilities. In February 2021 the company launched Forge Company Solutions, a suite for company-sponsored liquidity programs including executive liquidity, employee liquidity, tender offers and direct listings. Forge says it will use new funding to expand service offerings in the U.S. and beyond and to continue developing products and services for the private market. Founded in 2014, Forge is backed by a mix of Silicon Valley investors and global institutions including Deutsche Börse, Temasek, Wells Fargo, BNP Paribas and others. Forge Global is a trading, settlement and custody marketplace for pre-IPO securities that enables employees and investors in private companies to liquidate portions of their shares and gives investors access to late-stage private firms. Founded in 2014 as Equidate, Forge's platform lists companies such as Spotify, Lyft, and 23andMe and is backed by investors including Tim Draper, Peter Thiel, FT Partners and Munich Re. Since inception the company has completed nearly $2 billion in transaction volume. Forge is collaborating with BNP Paribas to develop and distribute a structured equity product linked to a diversified basket of private shares, leveraging Forge's technology, data, and relationships across unicorn firms. The partnership includes an equity investment from BNP Paribas and an observer seat on Forge's board for Angel Rodriguez-Issa. Forge says the initiative will launch a $1 billion series of investment products to provide institutional and high-net-worth clients exposure to pre-IPO companies. Forge Global operates a marketplace for pre-IPO securities, allowing shareholders and investors in privately held innovation firms to liquidate portions of their shares. The platform provides access to top private companies such as Spotify, Lyft and 23andMe prior to their IPOs. Led by CEO Kelly Rodriques and established in 2014, the company has facilitated over $1 billion in transaction volume across US and international companies. Forge has launched the Forge Tech30 Capped Index and the EQUIAM Private Tech30 Fund to provide diversified exposure to large private tech companies. The company says it will expand the range of services offered to companies, investors and strategic partners to broaden access to the private markets. Equidate operates an online secondary marketplace that makes privately held company shares available to accredited and institutional buyers, typically requiring $20,000–$50,000 minimum investments. The platform charges roughly a 5% commission on each transaction and employs 26 people. Equidate has played a material role in pre-IPO liquidity, handling about 40% of Spotify’s secondary trades ahead of its direct listing. The company says it is on track to transact $1 billion worth of shares this year. It has engaged with a number of high-profile private companies, including Didi, Meituan Dianping, Tencent’s music service and Xiaomi. As companies stay private longer, Equidate is positioned to support interval liquidity programs and broader secondary-market demand. Equidate operates a web-based marketplace for pre-IPO company shares that connects accredited investors with opportunities to invest in fast-growing private companies. The platform also provides a channel for employees of startups to liquidate equity. Access to the marketplace is restricted to accredited investors with a net worth over $1 million or annual income above $200,000. The company is led by CEO Sohail Prasad and recently appointed Head of Strategic Operations John‑Paul Teutonico. Teutonico previously served as Chief Administrative Officer at SecondMarket. Equidate raised a seed funding round of undisclosed amount backed by several angel and institutional backers.

Participated · Series A · Mar 2017

Sensibill offers a cloud-based digital receipt management platform and SKU-level data that help financial institutions provide customers tools for budgeting, returns, warranties and taxes while unlocking transactional insights. The company’s solution is integrated into banks’ and credit unions’ channels to improve customer financial management and digital engagement. Sensibill works with approximately 75 financial institutions across North America and the U.K. and has positioned itself to expand strategic growth and market share. Founded in 2013 and headquartered in Toronto, Sensibill plans to use new financing to support strategic growth and pursue broader global adoption. The company emphasizes enabling institutions to better know and serve their customers through detailed purchase-level data. Sensibill, founded in 2013 and led by CEO Corey Gross, provides digital banking solutions that enable relationships between financial institutions and their customers. Its core product is an AI-powered spend-management platform that helps customers make sense of purchase behavior and cash flow while delivering revenue-driving insights for banks. The company has secured over 30 major bank partnerships across its target markets in the U.S., the U.K. and Canada, including Bank of Nova Scotia, Royal Bank of Scotland Group and FIS. Since its previous funding round Sensibill’s employee count has more than doubled and it has opened an office in the U.K. Financially, Sensibill has raised a total of $46.5M to date. The company intends to use the new capital to continue expanding operations and its business reach. Sensibill is a Toronto-based provider of a white-label Software-as-a-Service platform that enables personal and business banking customers to manage line-item receipts directly from desktop and mobile banking applications. Customers can capture and store paper and electronic receipts for returns, exchanges, expenses, taxes and accounting. Led by CEO Corey Gross, the company supplies its smart receipt management service through partnerships such as launches last year with Scotiabank and TD Canada Trust’s UGO Wallet. Sensibill raised $17.3M in a Series A funding round. The company plans to use the funds to continue developing its suite of solutions and to expand its customer base in the United States, U.K., and Australia. Board seats will be added for Tony van Marken of OTEAF and David Unsworth of Information Venture Partners as part of the round. Toronto-based Sensibill offers a receipt-management platform that lets banks provide customers access to digitized receipts via desktop and mobile banking apps. The company translates unstructured receipt data into a standards-based data set to create customer value-adds, new revenue streams, and streamlined customer support. Sensibill positions the service as both a customer-facing benefit and a tool to boost banks’ ROI. It is a Ryerson Futures alumnus and has onboarded early partners that the company describes as large Canadian financial institutions (unnamed). Sensibill raised $2 million in seed funding and plans to use the proceeds to build out its team and scale operations. Impression Ventures’ involvement also brings board experience via Bryan Kerdman joining the board.

Led · Series A · Sep 2015

AlphaClone develops investment strategies that surface the investment ideas of established hedge funds using institutional public disclosures, and offers those strategies via managed accounts and exchange-traded funds. Its flagship offering is the AlphaClone Hedge Fund Long/Short Index, which returned an average of 18.36% per year versus 14.31% for the S&P 500 Total Return Index over the three years ended 8/31/2015. The firm’s products are designed to be liquid, transparent, low-fee, and automatically adjust based on preset rules to manage downside risk. Over the past year AlphaClone’s advised assets grew fourfold to more than $200 million. The company plans to use new financing to accelerate product introductions and expand its marketing and sales operations. Leadership has been expanded with Michael Carrier named COO and Brad Bredemann named Head of Sales and Distribution to support growth.

Led · Seed · May 2015

Harvest Savings & Wealth Technologies (formerly Trizic Inc.) is a San Francisco-based provider of integrated, enterprise-grade digital savings and wealth solutions for banks, credit unions, trust companies and other financial institutions. The company offers Digital Account Opening and Automated Digital Advice and lists clients including John Hancock, Bank of Oklahoma, First Citizen’s Bank, Apex Clearing Corporation and Central Trust Company. It recently launched two products: Goalkeeper, a white-labeled automated micro-savings solution that enables unlimited goals-based savings accounts with no monthly fees; and Signals, an actionable business intelligence layer that tracks specified patterns across retail and wealth core systems to trigger integrated actions. Harvest raised an additional $23M in a financing that included both equity and debt and said it will use the funds to accelerate growth. Led by CEO Drew Sievers, the company positions its offerings as tightly integrated savings and wealth solutions that operate up and down the value chain. Trizic offers an enterprise-class digital investment technology platform for wire houses, brokerages, asset managers, banks, credit unions, and Registered Investment Advisors. The platform is investment-product agnostic and accommodates ETFs, mutual funds, and equities. Led by CEO Drew Sievers, the company focuses on deploying digital wealth technology across the wealth spectrum. Trizic raised $10M in a Series A to support its expansion plans. The firm intends to use the funds to broaden its offering to RIAs, asset managers, broker dealers, banks, and credit unions. Its solution targets large financial institutions and independent advisors seeking automated digital investment workflows. Trizic provides a hosted, enterprise-class digital investment and workflow technology platform for wire houses, brokerages, asset managers, banks, credit unions and RIAs. The platform is investment-product agnostic and accommodates ETFs, mutual funds and equities. Trizic is led by CEO Drew Sievers and serves clients including John Hancock, Level Four Advisors and FIS Global. The company intends to use newly raised funds to continue scaling its business and operations. Its product targets large financial institutions with an emphasis on enterprise deployment and workflow integration. The company is based in San Rafael, CA. Trizic provides an enterprise-grade, cloud-based digital wealth advice platform for RIAs, broker-dealers, asset managers, wirehouses, banks and credit unions. Led by CEO Drew Sievers, the product is investment-product agnostic and supports ETFs, mutual funds and equities. The company offers a white-label, scalable solution for large financial institutions seeking automated advice capabilities. Trizic intends to use the proceeds from its recent financing to accelerate growth. The company raised $3.3M in equity funding in the reported round. Trizic is a San Francisco-based provider of digital wealth advisory solutions for financial institutions and registered investment advisors. It offers Trizic Accelerator, a cloud-based digital wealth advisory platform that enables broker-dealers, asset managers, banks, credit unions, trust companies and independent wealth management firms to offer online investment advice to prospective or current clients. Accelerator delivers a customized experience for online investors and includes a back-end console for advisors that automates online account opening, portfolio management, securities trading, rebalancing, compliance reporting and client billing. The company is led by CEO and founder Brad Matthews. Trizic raised $2M in seed funding and intends to use the funds for the full rollout of Trizic Accelerator. Backers included Operative Capital.

Participated · Seed · Dec 2014

Digit is a San Francisco-based financial health company that analyzes spending and automatically saves the optimal amount for users each day. Led by founder and CEO Ethan Bloch, the company began as a savings tool and created an 'auto-save mode' to remove the stress and effort of saving. By connecting directly to members' banks, Digit automatically allocates money toward personalized savings goals to ensure steady progress toward financial health. So far, members have set over 8 million goals and on average save over $2,000 a year. The company has a team of over 60 and intends to use new funding to expand operations and broaden its business reach. The product focus remains automated, individualized savings and goal tracking to improve users' financial stability. Digit operates an automated savings service that connects to users' checking accounts and learns spending patterns to move small amounts into an FDIC-insured savings account. The product targets Americans—particularly the 18–30 demographic—who the company says save insufficiently. Digit has grown from processing a few million dollars a month to nearly $20 million per month and has helped customers save over $125 million since launch. The company was founded in February 2015, currently employs 18 people, and operates in the U.S. At the time of the Series B, Digit still had $8 million remaining from its Series A. In the near term the team plans to invest heavily in product development and is slated to grow headcount. Digit provides an automated savings platform that connects to users’ bank accounts, tracks spending behavior with algorithms, and moves money into a separate non‑interest‑bearing savings account. The service is primarily managed via SMS rather than a full mobile app, with users texting to view balances, withdraw, or save more. Since opening to the public after a lengthy beta, Digit’s user base has grown 10x and its savings under management have increased 5x. Only about a quarter of users have withdrawn funds set aside for them, and another quarter increase savings when prompted by SMS, indicating strong engagement. The company plans to expand features, including working on a compliant way to pay interest, exploring overdraft protection, and ultimately automating broader financial tasks like bill payment, debt reduction, and retirement saving. With rapid user growth and recent funding, Digit is focused on integrating into multiple parts of consumers’ financial lives. Digit automatically transfers funds from a user’s checking account into a non‑interest bearing but FDIC‑insured Digit savings account using an algorithm that assesses balances, pay schedules and spending habits. Users grant Digit access to online banking credentials and the service decides safe transfer amounts without requiring preset rules. Digit communicates primarily via SMS, sending daily updates and responding to simple commands like 'Recent' and 'Withdraw', and provides a minimal web view of balances and transfer history. Since launching its pilot, Digit has saved more than $600,000 for users and the company reports saving about 5.5% of users' monthly income on average; one pilot user saved roughly $1,000. The company plans to integrate with a major banking partner to lower ACH processing costs and scale, and will use the seed funding to grow the team slightly. CEO Ethan Bloch, formerly of Flowtown (acquired by Demandforce), leads the company and assembled a team and advisors focused on payments and scaling.