Blockchain-Powered Startup Stock Exchange Funderbeam To List Hatcher+ Portfolio Companies
Singapore-based venture investment platform Hatcher+ has announced that shares in its individual portfolio companies will be listed on Funderbeam’s blockchain-based startup marketplace, providing investors with a secondary market on which they can buy and sell shares to interested buyers. A spokesperson for the company told CoinJournal that the new listings will go live in the second half of 2018.
John Sharp, co-founder of Hatcher, said the partnership with Funderbeam will provide investors with “powerful options with respect to liquidity, on a technically-robust, proven platform, using a future-proof strategy built on modern technologies and regulatory structures.”
Founded in 2013 by former NASDAQ Estonia CEO Kaidi Ruusalepp and Urmas Peiker, Funderbeam is an award-winning fintech venture that aims to become a one-stop shop for startup investments.
The company provides a global marketplace for growth capital and a trading platform that combines startup data, syndicated investor and liquidity through online trading.
The Funderbeam Markets platform, which the company launched in 2016, is the world’s first primary and secondary market for early-stage investments which utilizes blockchain technology to secure investments and trades. In particular, it uses Colored Coins to represent digital rights to an investment agreement between an investor and the syndicate created to invest in a startup. As all transactions are recorded and verified by the blockchain, these Colored Coins can be traded on a liquid secondary market.
Hatcher+ and Funderbeam both recently received funding from Mistletoe, the internationally-focused startup ecosystem development firm created by serial entrepreneur and billionaire investor Taizo Son. Mistletoe invested US$3.5 million in Hatcher+ and €2 million in Funderbeam.
“The reason we built Funderbeam was to enable the kind of cross-border trading that Hatcher+ seeks to facilitate for its startups,” said Ruusalepp. “Our experience working with regulatory regimes around the world and inside leading exchanges such as NASDAQ, places us in a strong position to successfully navigate this new territory. We look forward to working with Hatcher+, Mistletoe, and with other investment platforms, as we expand our marketplace into new territories.”
Funderbeam, which is based in Tallinn, Estonia, has been working with strategic partners to enter new markets.
The company signed a partnership with the Zagreb Stock Exchange in October 2016 marking its first steps into the South East European region.
The investment it received from Mistletoe in 2017 will be used to take its offering to Japan and elsewhere in Asia-Pacific.
Founded in 2016, Hatcher+ is a venture investment platform that uses artificial intelligence and machine learning-based technologies to identify investment opportunities.
Hatcher+ recently launched H2, a US$125 million fund, which will be used to make investments into more than 1,000 early stage companies over the next two years.