Blockchain focused AVA Labs has taken over Investery, a private investment platform, to further widen its business operations.
AVA Labs has pointed out that the takeover will improve its financial product offering with access to platforms offering private asset and the roll out of exclusive financial assets.
Moreover, Investery’s prevailing collaboration will also move to AVA.
Taking over Investery will broaden capabilities of AVA Labs’ in handling specific financial assets.
Investery offers a platform that aids investors in researching, administering and dealing in markets which are not open to public, while also aiding issuers structure exclusive private financial assets.
Additionally, the solution comprises of several marketplaces, permitting investors to have a look at their total inventory in a single place.
Emin Gün Sirer, AVA Labs’ co-founder and CEO, anticipates the takeover to help the company in enrolling new clients and widen its collaboration.
John Wu, CEO and Founder of Investery, underlined that his company approves AVA’s strategy of capitalizing blockchain to increase liquidity.
Both companies also revealed that Wu will act as President of AVA Labs, while Lydia Chiu, currently vice president of Business Development and Product, will continue in the same role.
Before establishing Investery, Wu had set up Sureview Capital with a tactical capital investment from Blackstone and was earlier a tech venture capitalist at Kingdon Capital and Tiger Management.
Chiu, on the contrary, was earlier employed with Morgan Stanley and Credit Suisse. Additionally, she was employed as senior analyst at Sureview Capital and also played the role of director of crypto assets division of SharePost.
Earlier last month, crypto industry players conducted numerous acquisitions in the financial technology domain.
It can be remembered that Morgan Stanley, a banking behemoth, is acquiring online trading entity E*Trade Financial Group, which would increase the range of product offerings to investors.
Earlier last month, the holding firm of New York Stock Exchange, Intercontinental Exchange, disclosed plans to take over software firm Bridge2 in the process of preparing for an app roll out by Bakkt, ICE’s associate firm.
