Aquanow, a leading digital assets infrastructure provider, has unveiled its latest initiative – the AQN Digital Ventures Fund. This blockchain-focused fund aims to provide investors with a gateway to the emerging generation of founders and businesses in the blockchain space, positioning itself as a trusted partner for navigating the evolving landscape of Web3 technology.
New Fund Opens Doors to Next-Gen Blockchain Entrepreneurs and Projects
Aquanow’s Strategic Approach
Michael Kwok, the Head of Venture Capital at AQN Digital, shared that the fund has garnered investments from individuals with close ties to Aquanow, including early backers and long-term customers who have closely followed the company’s journey. AQN Digital Ventures Fund has already made strategic investments in seven portfolio companies, demonstrating its commitment to fostering innovation in the blockchain sphere.
Web3: A Game-Changer for the Financial System
Kwok emphasized the fund’s belief in the transformative potential of Web3 technology, describing it as the early stages of a paradigm shift in the global financial system. He also highlighted the importance of trusted partners like Aquanow, which has accumulated invaluable experience in the crypto space, in supporting promising founders.
Fund Overview
The AQN Digital Ventures Fund is currently valued at $13.4 million CAD ($10 million USD), focusing primarily on early-stage investments in blockchain projects and technologies. To date, it has successfully closed investments totaling $6.7 million CAD ($5 million USD). Notably, the fund participated in a $3.8-million seed round for BoomFi, a digital currency payment processing platform, in June, and invested in cryptocurrency FinTech startup Mash last year. Moving forward, the fund anticipates making one to two additional investments each month.
Supporting Visionary Founders
Kwok emphasized that many startups in the crypto space are founded by individuals with extensive experience in the industry, possessing deep knowledge and insights into specific pain points and innovative solutions at scale. AQN Digital Ventures Fund aims to back these promising founders in the early stages of their ventures, reinforcing their vision and providing essential support.
Focused Investment Strategy
The fund is targeting investments ranging from $100,000 to $500,000 per project, with plans to make up to two investments per month. In terms of verticals, Aquanow’s particular interests include payments, infrastructure, and compliance within the crypto space. Kwok stressed that investments align with Aquanow’s core business of digital asset infrastructure and liquidity.
A Global Footprint and Industry Expertise
Aquanow serves a diverse international customer base, including banks, neobanks, brokerages, and payment companies. Established in 2018, with headquarters in Canada and offices in Toronto and Vancouver, the company has grown to employ over 100 professionals.
Leadership with Traditional Finance Background
Aquanow’s CEO and co-founder, Phil Sham, brings a wealth of traditional financial experience to the table, having held significant roles in electronic trading and equity markets at leading financial institutions. Sham’s background underscores the convergence of traditional finance with the burgeoning world of cryptocurrencies and blockchain technology.
Regulatory Compliance and Pioneering Spirit
Aquanow’s commitment to regulatory compliance is evident through its registration of AQN Asset Management, Ltd. with the British Columbia Securities Commission and the Ontario Securities Commission. These regulatory milestones enable the company to offer innovative digital-assets investment funds for Canadians, fostering transparency and safety in the crypto investment landscape.
Looking Ahead
As the blockchain and crypto landscape continues to evolve, AQN Digital Ventures Fund’s strategic approach and Aquanow’s strong reputation position them to thrive in the rapidly expanding venture capital opportunities within the crypto space. In an era of regulatory scrutiny, Aquanow’s commitment to compliance and its pioneering spirit set the stage for a promising future in the Web3 arena.