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Fineqia International Inc. is pleased to announce that it has participated in the 21 million dollars IDEO CoLab Ventures fund that invests in blockchain and cryptocurrency start-ups at an early stage. The investment in IDEO CoLab Ventures was made through its subsidiary Fineqia Investments Ltd.
Together with Fineqia, the fund is backed by global design firm IDEO known for iconic designs such as Apple’s first computer mouse and for addressing complex challenges in corporate, social and government sectors, Avanta Ventures (the venture capital arm of CSAA Insurance Group), the Korean GS Group and other institutional investors, as well as executives from IDEO, Coinbase, Twitter and Fortress, among those of other technology companies and financial institutions.
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“The combination of design and technology is the specialty of a select few, but the delight of many,” said Bundeep Singh Rangar, CEO of Fineqia. “Our investment is to support this thesis and disseminate it through IDEO CoLab Ventures.”
IDEO CoLab Ventures has invested in and helped incubate 30 blockchain and cryptocurrency start-ups such as Braintrust, FalconX, Messari and NEAR, bringing IDEO’s range of capabilities into areas such as product design, customer research and collaborative business networks.
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“Our deep capabilities in design, product development and blockchain technology enable us to attract world-class entrepreneurs and start-ups from around the world,” he said. Ian Lee, CEO of IDEO CoLab Ventures. “This has led to unprecedented investment opportunities and the ability to partner with some of the best founders and companies in the world to develop this important technology and the businesses they are building with it.”
Fineqia’s investment follows others such as blockchain insurance software company, Black Insurance; blockchain-based asset registration and clearing solution, Nivaura Ltd; wealth manager based on blockchain Wave Financial Ltd; Premium Finance Software-as-a-Service (SaaS) provider, PremFina Limited; and Phunware Inc., an enterprise cloud platform for distributing mobile content for brands around the world.
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