Fineqia Invests in Blockchain Fund IDEO Colab Ventures
Oct 27, 2020, 08:30 ET
LONDON, Oct. 27, 2020 /PRNewswire/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce it has participated in the US$21 million IDEO CoLab Ventures ("IDEO CoLab Ventures") fund that invests in early stage blockchain and crypto start-ups. The investment in IDEO CoLab Ventures was made via its subsidiary, Fineqia Investments Ltd (https://www.fineqia.com/fnq).
Along with Fineqia, the fund is backed by global design company IDEO known for iconic designs such as Apple's first computer mouse and for tackling complex challenges across business, social, and government sectors, Avanta Ventures (the venture capital arm of CSAA Insurance Group), Korea's GS Group, and other institutional investors, as well as executives from IDEO, Coinbase, Twitter and Fortress, among those from other tech companies and financial institutions.
"Combining design and technology is the specialty of a select few but the pleasure of the very many," said Fineqia's CEO Bundeep Singh Rangar. "Our investment is to support this thesis and propagate it via IDEO CoLab Ventures."
IDEO CoLab Ventures has invested in and helped incubate 30 blockchain and crypto start-ups such as Braintrust (https://www.usebraintrust.com, FalconX (https://falconx.io), Messari (https://messari.io) and NEAR (https://near.org), by bringing IDEO's range of capabilities in the areas such as product design, customer research and collaborative corporate networks.
"Our deep capabilities in design, product development, and blockchain technology enable us to attract world-class entrepreneurs and start-ups from around the world," said Ian Lee, Managing Director of IDEO CoLab Ventures. "This has led to unparalleled investment opportunities and the chance to collaborate with some of the world's best founders and companies on the development of this important technology and the businesses that are being built with it."
Fineqia's investment follows others such as in blockchain insurance software company, Black Insurance; blockchain-based asset registration and clearing solution, Nivaura Ltd; blockchain-based asset manager Wave Financial Ltd; premium finance Software-as-a-Service (SaaS) provider, PremFina Limited; and Phunware Inc., an enterprise cloud platform for delivery of mobile content for brands worldwide.
Fineqia identified growth potential when investing in IDEO CoLab Ventures as being adjunct and strategically aligned to the company's core business of placing debt and equity securities. Fineqia's investment commitment as a limited partner in IDEO CoLab Ventures (https://www.ideocolab.com/ventures/) represents less than 5% of its market capitalisation, of which the initial drawdown is less than 2%.
About Fineqia Investments Ltd
Fineqia Investments Ltd is a wholly owned subsidiary of Fineqia International set up to hold the Company's growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
About Fineqia International Inc.
Fineqia International is listed in Canada (CSE: FNQ) and quoted on stock exchanges in the United States (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International sets out the corporate governance, corporate culture, processes and relationships of the company under which the Company and its subsidiaries are managed and managed. Fineqia International monitors and ensures the success, planning and growth of the Company and all of its subsidiaries. More information can be found at https://investors.fineqia.com/news.
About IDEO CoLab Ventures
IDEO CoLab Ventures, an affiliate of global design company IDEO, is a $21 million early stage investment fund focused on investing in and accelerating leading blockchain entrepreneurs and start-ups. More information can be found at https://www.ideocolab.com/ventures/.
SOURCE Fineqia International Inc.
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