Contango Digital Assets Raises $1.2 Million in Seed Round to Help Build Web3 Infrastructure
Contango has now deployed over $7M in total to more than 50 Web3 startups globally
Tortola, BVI , March 23, 2023 (GLOBE NEWSWIRE) --
Leading Blockchain VC Firm Contango Digital Assets has successfully closed its $1.2M seed round for its parent company to build Web3 infrastructure and raise awareness for Contango Digital Assets as an investment firm.
To date, Contango has deployed over $7 million to support 50+ Web3 teams and is on track to at least double that figure in 2023. The seed round has sparked excitement from an assortment of investors, seeing participation from Family Office, Venture Capital and HNW Angel investors alike.
“This round was an accelerant for Contango. It allows us to place our bets on the growth of the industry, build our presence as a firm and position ourselves as one of the top rising VCs in the Web3 space. We are very excited to work with our newest strategic investors and feel poised to emerge as one of the leading up-and-coming Web3 VCs during this next market cycle,” said Contango Digital Assets co-founder Mike Grantis.
“We are excited about what this injection of capital can do to further our mission here at Contango. We see a future where we can offer avenues for all levels of sophisticated investors to get access to competitive Web3 private markets, usually only accessible to large funds. We plan on doing this by innovating on the current infrastructure available to investors and building systems that bring more transparency to this process. This seed round will be the catalyst for Contango to execute on that vision,” said Contango co-founder Josh Field.
In addition to closing their seed financing round, Contango has also added Eric Baum to its board. Eric Baum brings over twenty years of experience in advising executive leadership teams for both well-established Fortune 50 companies and emerging ventures. Eric currently serves as the Co-Founder / Managing Director of Solidea Capital, a private equity and venture advisory firm founded in 2006. He brings strong subject matter expertise in post-merger integration, corporate strategy, market positioning and start-up advisory services to the Contango team.
Contango has built a thriving venture business over the past two years while building a flourishing private community of +450 angel investors, researchers, founders and industry experts that share deal-flow, research and private allocation opportunities in Web3.
The firm is currently building a SaaS platform that will add transparency to the complex private capital markets and level the playing field for angel investors in the Web3 private investment landscape.