CAMBRIDGE, Mass. and NEW YORK, March 14, 2018 /PRNewswire/ -- Vestigo Ventures, an early-stage venture capital firm focused on fintech, announced today it has made a seed investment in Digital Assets Data, a company that seeks to bring data, information and transparency to cryptoassets, including currencies, platforms, applications, side chains, security tokens, and initial coin offers (ICOs) through subscription services to hedge funds and other institutional investors.
The funds raised will be used by Digital Assets Data to scale its technology and programming operations. The company was recently launched by successful serial entrepreneur Mike Alfred, the Co-founder and former Chief Executive Officer of BrightScope, and his brother Eddie Alfred, along with Jason Yates, former Chief Technology Officer of BrightScope. Founded in 2008, BrightScope (recently acquired by Strategic Insight) is a fintech and data company that delivers enterprise-grade SaaS solutions to many of the world's largest asset managers and helped pioneer an industry-standard rating for 401k plan quality.
"You don't have to be in fintech to be aware of the hyper-growth of cryptocurrencies and other cryptoassets. Digital Assets Data is the only company focused on delivering much needed transparency and structure to the nascent and rapidly-changing industry," said Mark Casady, general partner of Vestigo Ventures, who will serve on Digital Assets Data's Advisory Board. "The mission of Vestigo is to back companies developing technology infrastructure for the financial services industry, and equally, investing in people that have both the vision and ability to succeed; the team from Digital Assets Data checks all the boxes. We are confident Mike and his team will be successful in launching a data platform that becomes a standard for the industry and ultimately improves liquidity of cryptoassets."
"As cryptoassets continue to gain momentum, financial institutions will require specialized tools that allow them to successfully navigate what is currently an opaque market environment," said Mike Alfred, CEO and co-founder of Digital Assets Data. "Vestigo understands the void Digital Assets Data fills, as well as our team's track record and desire to grow another strong and defensible business."
Alfred continued, "The access Vestigo provides is unparalleled and will enable us to rapidly expand and bring Digital Assets Data's products and services to the C-suite of financial services institutions trying to effectively position themselves in cryptoassets and ICOs."
Vestigo Ventures is an early-stage venture capital firm headquartered in Cambridge, Massachusetts that invests in financial technology (fintech) companies. The Firm was founded by David Blundin, CEO and chairman of Cogo Labs, Mark Casady, former CEO and chairman of LPL Financial, and Managing Directors Ian Sheridan and Mike Nugent. Vestigo has identified four areas of concentration: market structure, operations solutions, worksite management and personal wealth. Learn more at www.vestigoventures.com.
SOURCE Vestigo Ventures