VentureWave Leads $40m Investment inFunderbeam to Shape the Future of Venture Markets
Summary
VentureWave to take a strategic majority stake in Funderbeam and contribute its capital, global networks, leadership and Vestiver platform capabilities.Co-investors in the round include Mistletoe; Draper Associates; and Kaidi Ruusalepp, the founder of Funderbeam.The group will serve institutional investors and angel networks globally in accessing venture deals and secondaries with a strong impact methodology and appraisal process.VentureWave, an Irish-based venture private equity group committed to impact investing and supporting high-impact entrepreneurs, and Funderbeam, the angel investing and trading platform, today announced that they have agreed to enter into a transaction to create a leading global entity which will serve institutional and angel investors in venture deal execution and secondaries.VentureWave will take an active and strategic leadership role in scaling Funderbeams ground-breaking technology across venture assets. Following the completion of the transaction, the group will target the entire life cycle of global venture investments and secondaries, from early-stage angel funding until pre-IPO secondaries.This transaction creates a powerful platform to fast forward Funderbeams vision which is to serve venture investments across borders and create a unique secondary market for private assets. We all share a great vision for Funderbeam.Private companies from venture investments have a long history of difficult liquidity. Funderbeam has been a pioneer in changing the way that the venture market works democratising investments in startups and enabling exits when needed. Following the transaction with VentureWave, it will now additionally serve institutional clients VC funds, family offices, brokers and investment banks.