The blockchain and decentralized applications (dApps) spaces have experienced unprecedented growth over the last few years, with both legacy players and new startups leveraging blockchain and the power of Web3 to redesign processes, lower costs, improve offerings, enhance security, and put data ownership and control back in the hands of users. Some Web3 verticals, such as CRM and investments, have even grown by thousands of percentage points, and the latest reports indicate that the global Web3 market is expected to eclipse the $12 billion mark in just a few years at a CAGR of almost 40%.
In hindsight, such growth may be obvious, but for projects and businesses operating today, current methods such as legacy payment rails and outdated tech tooling can dampen the impact of otherwise revolutionary ideas and the initiatives of high-performance players looking to make an impact on the market.
One such player is Contango Digital Assets, a British Virgin Islands-based venture firm focused on investing in and building products and services that make Web3 globally accessible. Contango facilitates capital allocation, incubates and provides strategic support to early-stage Web3 infrastructure projects.
With a community of over 450 angel investors, researchers, founders, and industry experts – all of whom provide insights and information on deal-flows and private allocation opportunities within Web3 – Contango has already deployed over $7M across over 50 Web3 startups around the globe. Some of these investments include Andromeda Protocol, Coinweb, Kado, NuNet, Nakamoto Games, Astra Protocol, and IQ Protocol – all of which are prominent Web3 companies helping make Web3 more globally accessible. The firm is on track to double its deployed capital in 2023.
Contango Digital Assets has just announced the successful close of a new $1.2M seed round. These funds will be used to build Web3 infrastructure and promote awareness for Contango Digital Assets as an investment firm. This funding round saw participation in funding and investment coming from all corners of the tech and blockchain markets, including from the likes of family offices, venture capitals, and HNW angel investors around the world.
According to Co-Founders Mike Grantis and Josh Field, the latest funding round will help Contango follow through on its strategy of investing in highly promising blockchain and Web3 projects while building a network of the leading VCs and investors in the growing Web3 space. With a vision of becoming the go-to investment partner and strategic advisor for all levels of sophisticated investors looking for access to competitive Web3 private markets – markets that are typically accessible only to large funds – Contango is changing the Web3 landscape and building critical infrastructure that will underpin it. . Currently the team is building infrastructure that will bring more transparency and accessibility to investors when it comes to investments, funding, access, and participation in Web3.
At present, Contango is building a unique SaaS platform that will bring transparency and streamlined operations to private capital markets – a highly complex and convoluted industry – thereby leveling the playing field for angel investors and smaller players looking for exposure across the gamut of Web3 offerings in the private investment space.
In addition to closing a new and successful financing round and powering ahead with their project roadmap Contango has also added a renowned investment pioneer to its board in Eric Baum. Mr. Baum has over two decades’ worth of hands-on experience in providing strategy and advisory services to the boards and executive leadership teams of not just emerging ventures but established Fortune 50 companies. He currently serves as the Co-Founder and Managing Director of Solidea Capital, a private equity and venture advisory firm that has been in the market for almost 20 years, and he brings exceptional subject matter expertise, merger integration experience, and a deep understanding of corporate strategy and market positioning to the Contango team.
With its new platform in place, added firepower on its board, continued backing of leading investors and improved access to high profile opportunities, Contango Digital Assets is rewriting the Web3 investment playbook and is making it easier than ever for new participants to gain exposure to the flourishing Web3 industry. Learn more about the project at https://www.contango.digital/.