Contango Digital Assets, a prominent VC firm in the blockchain industry, has announced a successful $1.2 million seed funding round aimed at furthering their endeavour to build infrastructure that makes web3 more globally accessible. This round will also serve to raise the profile of Contango Digital Assets as a leading Web3 investment firm.
Contango has already invested over $7 million across more than 50 Web3 projects and is poised to at least double this amount in 2023. The successful seed round has generated enthusiasm among a diverse group of investors, including family offices, other VC firms and high net worth angel investors.
Contango Digital Assets co-founder, Mike Grantis said that the current funding round has given the company a significant boost and enabled them to take advantage of the industry’s expansion. “We establish ourselves as a prominent firm, and position Contango among the top emerging VCs in the Web3 arena. We are thrilled to partner with our latest strategic investors and to grow our reach and exposure during the upcoming market cycle,” said Grantis.
His partner, Contango co-founder Josh Field added: “We are thrilled about the potential of this funding to advance our mission here at Contango. We envision a future where we can provide opportunities for investors of all levels to access competitive Web3 private markets, typically only available to large funds. To achieve this goal, we plan to develop solutions that bring more transparency to the investment process. This seed round will serve as the catalyst for Contango to realize our vision.”
Along with the successful completion of its seed funding round, Contango has appointed Eric Baum to its board. Baum has over twenty years of experience in advising executive leadership teams of well-established Fortune 50 companies and emerging ventures.
Currently, he serves as the Co-Founder/Managing Director of Solidea Capital, a private equity and venture advisory firm established in 2006. Baum’s areas of specialization include post-merger integration, corporate strategy, market positioning, and startup advisory services, making him a valuable addition to the Contango team.
Over the past two years, Contango has established a thriving venture business and created a private community comprising over 450 angel investors, researchers, founders, and industry experts who collaborate on deal-flow, research, and private allocation opportunities in Web3.
The company is currently constructing a SaaS platform that will provide transparency to the intricate private capital markets and even the playing field for angel investors in the Web3 private investment ecosystem. Contango’s portfolio includes over 50 distinguished Web3, DeFi, and infrastructure projects , such as Andromeda Protocol, Coinweb, Kado, NuNet, Nakamoto Games, Astra Protocol, and IQ Protocol, among others.
Source: https://coinpedia.org/information/contango-digital-assets-raises-1-2m-seed-round-having-already-invested-over-7-million-in-50-web3-startups/