FinTech and blockchain-focused venture capital firm Elliptic Curve Ventures has launched.
The new firm will look to invest seed and early-stage capital into industrial and B2B blockchain and FinTech companies. A particular focus will be put towards startups developing credit, insurance, central banking, side-chains, and algorithm level enhancements.
There is also interest from the firm in companies that are able to disrupt the core mechanisms of institutional capital and risk allocation.
Elliptic is managed by Worth Venture Partners and was formed through a collaboration between XLP Capital managing director Matt Stack and Worth Venture’s partners Abby Flamholz and David Wertentheil.
XLP Capital Matt Stack said, “We believe that blockchain solutions have focused on revolutionizing retail financial services for the consumer, with emphasis on exchanges, wallets, and mobile apps.
“However, some of the most exciting developments over the past several years have been in algorithms that facilitate novel forms of institutional decentralization in structured financial products beyond cash, including decentralizing structured contracts, securities lending, re-hypothecation, and fractional reserving.”
Earlier in the month, FinTech Global reported that Latin America-focused alpha4 Ventures had raised up to $10m for its maiden investment fund. The firm has four investment areas FinTech, e-commerce, marketplace/SaaS and high tech and invests into companies Series A rounds.
There have been a number of FinTech-focused firms to raise new vehicles this year, with a number of them happening this month alone. GSR Ventures raised $400m, Aflac secured $250m, Golden Gate Ventures closed a $100m vehicle and Seven Peak Ventures pulled in $28m for its sophomore fund, to name just a few.
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