Recently, Contango Digital Assets closed a $1.2 million seed investment for building Web3 infrastructure. The leading blockchain VC firm has invested over $7 million worldwide in Web3 businesses as of this writing.
In 2023, when widespread use of Web3 technologies and blockchains is expected to peak, Contango is predicted to boost its revenue by 100%.
Investors in Contango Digital Assets’ seed round expressed a lot of enthusiasm. Mike Grantis, the co-founder of Contango Digital Assets, remarked (1) on the diverse backgrounds of the investors that made this round of funding possible:
“This seed round catalyzed Contango’s growth. We can capitalize on the market’s expected expansion, expand our reach, and solidify our standing as a leading Web3 venture capital business. Along with our new strategic investors, we believe we can become a market leader among emerging Web3 VCs in the next market cycle.
Contango co-founder and parent firm of Contango Digital Assets Josh Field also shared his thoughts on the seed fundraising. According to Field:
We are enthusiastic about the potential of this investment to help us accomplish our goals at Contango. Now, only very large funds have access to the hypercompetitive Web3 private markets, but we hope to change that in the future.
To that end, we’re going to improve upon the investors’ current options by developing tools to make the process more open and accessible.
Finally, Field cited the seed round as the impetus the organization needs to realize its goals.
The Success of Contango’s Platform Depends on Its Ability to Raise Capital through Their Seed Round.
Over the course of the past two years, Contango has built a thriving private community and a sustainable enterprise firm. More than 450 angel investors, innovators, industry professionals, and researchers all come together in one space to discuss and share information about Web3.
Plus, the company’s portfolio includes more than 50 industry-leading Web3, DeFi, and gaming businesses. Coinweb, Andromeda Protocol, NuNet, Kado, Astra Protocol, Nakamoto Gaming, and IQ Protocol are only some examples.
Contango is developing a Software as a Service (SaaS) platform to improve disclosure in the highly competitive private capital markets.
Also, the company’s goal is to greatly increase the availability of the Web3 private investment sector to angel investors.
Contango has completed its seed funding round and added venture capitalist Eric Baum to its board of directors.
Baum has been serving in consulting capacities for executive leadership teams of various stripes for the better part of two decades.
Both established companies like those in the Fortune 50 and startups with fresh leadership teams are represented here.
Today, Baum serves as the Managing Director and Co-Founder of Solidea Capital, a venture capital and private equity advisory firm.
In this capacity, he contributes to the Contango team his knowledge of corporate planning, positioning strategy, post-merger absorption, and startup financial advisory.
Electronic Assets in a Contango Market
Contango Digital Assets is a British Virgin Islands-based company that was founded in 2020 and is dedicated to creating products that increase access to the World Wide Web in underdeveloped countries.
The company finances Web3 infrastructure development with the goal of improving the Web3 user experience in its early stages.
The Financial Services Commission governs Contango (FSC).