New Asset Exchange, or NAX, has burst out of stealth and the corporate asset-creating company has already secured a $300m valuation.
After two and a half years of development, the company has now officially launched. During its time in stealth, NAX secured $65m from 12 institutional, family office and corporate investors across North America, Europe and Asia, ensuring the company could enter the public eye with hefty valuation.
NAX is founded by serial entrepreneur and CEO Jeff Schumacher, who previously founded and scaled BCG Digital Ventures. The venture has developed software for digital, micro and platform services.
The platform empowers companies in industries such as energy, healthcare and consumer goods to launch corporate asset-backed products. NAX is is supported by operating partners from global leaders in trading, banking and underwriting to deliver the requisite infrastructure.
“We are building upon a decade of learnings from working with the world’s leading financial exchanges and institutions,” said Schumacher. “With NAX, we are bringing financial innovation across sectors to create value in markets that otherwise would not exist.”
The company has also attracted several high-profile business figures to its board, including Frank Strauss, former global CEO of private and commercial banking at Deutsche Bank, and Heiner Leisten, CEO of Leisten & Cie. Family Office and previously senior partner at BCG.
“In today’s world, financial innovation is the bedrock upon which successful ventures are created,” Strauss said. “Jeff’s vision for NAX is what attracted me to supporting the company in applying financial innovation to corporate assets and ultimately unlocking significant value from those assets.”
Francisco Arcilla, partner and TNF Investments, which led the latest NAX fundraising round, added, “As an international investment firm that prides itself on being a catalyst for innovation and industry disruption, we were instantly captivated by NAX and its disruptive approach to asset creation and value generation. We were very excited to lead the latest round of funding for NAX, and we are equally enthusiastic about the prospect of the many ventures and further investment opportunities that NAX will create.“
NAX operates from its headquarters in Manhattan Beach, California for North America and Paris, France for Europe, with further locations in Palo Alto, New York, London, and Frankfurt. In 2021, it will be expanding to Singapore, Tokyo and Sydney.
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