Alphaledger, a leading provider of blockchain infrastructure for fixed income assets, focused on the origination and development of autonomous clearing, announced the first closing of its Series A funding round.
The round was led by EJF Ventures, the investment arm of EJF Capital, with participation from KDX and other strategic investors.
The funding round raised an undisclosed amount, which will be used to accelerate product development, expand Alphaledger’s footprint, and support the continued adoption of its innovative blockchain platform. The platform is focused on asset origination and the development of autonomous clearing.
Alphaledger’s platform is designed to streamline the asset origination and clearing process, increasing transparency, lowering costs, and reducing settlement time for financial institutions.
Manish Dutta, CEO of Alphaledger, said, “We are thrilled to have the backing of such esteemed investors as EJF Capital and KDX, and to partner with Tradeweb as we continue to nurture the evolution of our markets. Their combined expertise in financial services, technology, and global markets will be invaluable as we scale our platform and unlock the full potential of blockchain technology for capital markets participants.”
Jonathan Bresler, managing partner of EJF Ventures, commented, “Modernizing legacy financial infrastructure is essential as market participants grapple with the challenges of an increasingly real-time world. Alphaledger’s innovative approach from asset origination through the life of the bonds is designed to reduce cash drag and execution risk for the market participants (issuers, banks, underwriters, investment managers) and improve operational efficiency. We believe Alphaledger has applicability across many lines of financial services, and we are excited to support the exemplary team at Alphaledger.”
Alphaledger was founded in 2019 by former PIMCO executives Manish Dutta, Tammie Arnold, and Chris Wade (consultant to PIMCO). The company is committed to driving innovation and efficiency in the financial services industry, pioneering the recording of municipal loans and securities on its platform.
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